Iran-linked family-run money laundering operation uncovered in London, sanctions triggered

What happened

Iran International reports that a family-run financial network linked to Iran’s Revolutionary Guards (IRGC) has been operating out of London, laundering money through multiple shell companies in China and the UAE, according to leaked documents and sanctions records. British authorities sanctioned four members of the Zaringhalam family on May 11 for their roles in these activities.

At the center of the network is Farhad Zaringhalam, a British citizen with advanced degrees from King’s College London and a background in wireless communications and fintech. He serves on the board of an Iranian petrochemical trading group and manages a company registered in Singapore. Addresses tied to him include a Dubai location sanctioned by the United States for IRGC-related money laundering.

Nasser Zaringhalam, the family patriarch, and his exchange office have been sanctioned by the US Treasury for terrorism financing linked to the IRGC. Documents show he established at least 37 shell companies and over 140 bank accounts across the UAE and China to move funds surreptitiously. Transfers involving millions of euros were routed through these companies to facilitate payments connected to Iranian petrochemical firms owned by entities linked to the IRGC.

Known from the source

• Zaringhalam family members based in London were sanctioned by the British government on May 11.
• The family operated a money laundering network moving funds through shell companies in China and the UAE.
• US Treasury has sanctioned various family members and their exchange houses for financing the IRGC and terrorism.
• Documents reveal the transfer of millions of euros through shell companies tied to Iranian petrochemical firms linked to IRGC entities.
• Family members hold British and other citizenships and maintain residences in London districts with large Iranian populations.

What remains unclear

Other family members sanctioned include Pouria Zaringhalam, Mansour Zaringhalam, and Fazlollah Zaringhalam, all with British ties and involvement in exchange houses that have facilitated sanctioned IRGC financing. Mansour notably handled transactions for Persian Gulf Petrochemical Industries Company, a major IRGC economic entity. The family maintains multiple UK residences, highlighting their entrenched presence in London’s Iranian diaspora.

What remains unclear: Confirm up-to-date statuses on all sanctions listed for the Zaringhalam family and related companies. Verify company registration details in Dubai, China, Singapore, and London. Cross-check any recent responses or legal challenges from sanctioned individuals. Ensure all transfer sums and connections to IRGC-linked entities are supported by the latest leaked documents.

Evidence note

Outside Brief has treated the source material as confirmed within the supplied source context, while retaining attribution to the original publisher.

Original source: Iran International. Open the source.