IRGC ‘keeps secret funds in Asia’

An Iranian elite group is suspected of keeping secret funds in various parts of the world including South Korea and Malaysia, dodging internationally coordinated economic sanctions, people familiar with the matter said Sunday.

The United States Treasury Department is believed to be probing details of what it sees as a possible case of money laundering by the Iranian Revolutionary Guard Corps, with a view to sanctioning another of the group’s affiliated companies, they said.

Petrosina Arya, a Tehran-based company under the IRGC, allegedly has savings worth more than US$1 billion in an account at a major South Korean bank, a diplomatic source told Kyodo News. Continue reading