Toronto firm accused of helping Iran bypass international sanctions

DM

The Canadian Security Intelligence Service (CSIS) is alleging that a Toronto-based firm helped Iran bypass international sanctions. In a report obtained by Global News, ONG Currency Exchange Inc. helped an Iranian state-owned bank and other financial institutions get millions of dollars out of the Islamist dictatorship and into Canada. Alireza Onghaei, an Iranian immigrant-investor and the owner of ONG, admitted to CSIS that he helped the Iranian elite get money into the unsanctioned world through Canada. “Mr. Onghaei also admitted that the GoI [Government of Iran] has used his company to funnel money into Canada, and stated that, in order to allow for such a process to occur, he ensures that funds are processed in the UAE to circumvent economic sanctions,” CSIS wrote.

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