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Family Members of Iran PEPs included in Executive Order
FROM A
DIFFERENT POINT OF VIEW by Monte Friesner
1 October 2010
Please note that the Executive Order signed this week by President Barrack Obama, specifically included "Family Members" of the designated Iran PEPs. The document*, entitled " Blocking Property of Certain Persons with Respect to Serious Human Rights Abuses by The Government of Iran and Taking Certain Other Actions," blocked all property of the designated Iran senior leaders, and "any person determined by the Secretary of the Treasury, in consultation with and/or at the recommendation of the Secretary of State, to be an official of the Government of Iran, "
"or a person acting on behalf of the Government of Iran (including members of paramilitary organizations) who are responsible for and/or is complicit in, or responsible for ordering, controlling, or otherwise directing, the commission of various human rights abuses against persons in Iran or Iranian citizens or residents, OR THE FAMILY MEMBERS OF THE FOREGOING, on or after June 12, 2009, regardless of whether such abuses occurred in Iran."* [emphasis added]
What one must take away from this document is the inclusion of family members of Iran PEPs in the Blocking Order. As we know, prominent and known PEPs who are OFAC-designated SDNs rarely open bank accounts, but their family members often do it for them;
Watch out for them!
The facts and opinions stated in this article are those of the author and not those of WANTED SA. WANTED SA does not warrant the accuracy of any facts and opinions stated in this article; does not endorse them, and accepts no responsibility for them.
