The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) has designated a network of individuals and entities involved in a large-scale scheme to help Iran’s Islamic Revolutionary Guard Corps-Qods Force (IRGC-QF) counterfeit currency to support its destabilizing activities.
This network employed deceptive measures to circumvent European export control restrictions and procured advanced equipment and materials to print counterfeit Yemeni bank notes potentially worth hundreds of millions of dollars for the IRGC-QF. The IRGC-QF was designated pursuant to the global terrorism Executive Order (E.O.) 13224.
Treasury Secretary Steven Mnuchin said:
“This scheme exposes the deep levels of deception the IRGC-Qods Force is willing to employ against companies in Europe, governments in the Gulf, and the rest of the world to support its destabilizing activities. Counterfeiting strikes at the heart of the international financial system, and the fact that elements of the government of Iran are involved in this behavior is completely unacceptable.
“This counterfeiting scheme exposes the serious risks faced by anyone doing business with Iran, as the IRGC continues to obscure its involvement in Iran’s economy and hide behind the façade of legitimate businesses to perpetrate its nefarious objectives.“
Reza Heidari and Pardazesh Tasvir Rayan Co.
Reza Heidari (Heidari) is being designated today for having acted for or on behalf of the IRGC-QF and having assisted in, sponsored, or provided financial, material, or technological support for, or financial or other services to or in support of, the IRGC-QF.
Pardavesh Tasvir Rayan Co. (Rayan Printing) is being designated today for being controlled by Heidari; for having acted for or on behalf of the IRGC-QF; having assisted, sponsored, or provided financial, material, or technological support for, or financial or other services to or in support of, the IRGC-QF; and being owned by Tejarat Almas Mobin Holding, another Iranian company also being designated today.