• About
    • About Us
    • What We Cover
  • Advertise
    • Advertise
    • Our Advertisers
  • Contact
  • Donate
  • Send News
  • Subscribe

Oak Ridge Today

  • Home
  • Sign in
  • News
    • Business
    • Community
    • Education
    • Government
    • Health
    • Police and Fire
    • U.S. Department of Energy
    • Weather
  • Sports
    • High School
    • Middle School
    • Recreation
    • Rowing
    • Youth
  • Entertainment
    • Arts
    • Dancing
    • Movies
    • Music
    • Television
    • Theater
  • Premium Content
  • Obituaries
  • Classifieds




Former TVA executive pleads guilty to unlawful investments in Iran, filing false tax returns

Posted at 5:44 pm September 4, 2013
By Oak Ridge Today Staff Leave a Comment

A former Tennessee Valley Authority executive pleaded guilty Wednesday to unlawful financial investments in Iran and filing false tax returns, federal officials said.

Former TVA Vice President Masoud Bajestani, 58, formerly of Chattanooga, pleaded guilty to conspiracy to violate the International Emergency Economic Powers Act, or IEEPA, and Iranian Transactions Regulations, and two counts of filing false income tax returns, said U.S. Attorney William C. Killian of the Eastern District of Tennessee. Bajestani also agreed to forfeit $600,000 in U.S. currency, representing the funds used to promote the specified unlawful activity, Killian said.

Sentencing is set for 1:15 p.m. Jan. 15, 2014, in U.S. District Court in Knoxville before U.S. District Judge Leon Jordan. Bajestani faces a maximum penalty of five years in prison for conspiracy to violate the IEEPA, and three years for each count of filing a false tax return. He also faces a maximum fine of $250,000 on each count.

In February 2013, a federal grand jury returned an 11-count superseding indictment against Bajestani, charging him with conspiracy, violations of the IEEPA and the Iranian Transactions Regulations, making a false statement to a federal agency, international money laundering, and filing false income tax returns, Killian said.

Between February 2008 and May 2010, Bajestani agreed and conspired with an Iran-based coconspirator to engage in financial investments in Iran, in violation of the Iranian Transactions Regulations. These regulations impose economic sanctions against Iran, making it unlawful to make financial investments in Iran without authorization from the U.S. Office of Foreign Assets Control. Bajestani transferred $600,000 to Iran for investment purposes. He and his co-conspirator used an informal value transfer system known as a “hawala” to transfer the funds to Iran. Bajestani also falsely reported on his income tax returns that he did not have an interest in a foreign bank account.

This investigation was conducted by Homeland Security Investigations, Internal Revenue Service-Criminal Investigations Division, Tennessee Valley Authority-Office of Inspector General, and Federal Bureau of Investigation. Assistant U.S. Attorney Jeffrey Theodore represented the United States.

Filed Under: Federal, Government, Top Stories Tagged With: conspiracy to violate the International Emergency Economic Powers Act, Eastern District of Tennessee, false tax returns, Federal Bureau of Investigation, filing false income tax returns, Homeland Security Investigations, IEEPA, Internal Revenue Service-Criminal Investigations Division, Iran, Iranian Transactions Regulations, Jeffrey Thedore, Leon Jordan, Masoud Bajestani, Tennessee Valley Authority, Tennessee Valley Authority-Office of Inspector General, TVA, U.S. District Court, unlawful financial investments, William C. Killian

Advertisements

Join the club!

If you appreciate our work, please consider subscribing. Besides helping us, your subscription will give you access to our premium content.

Most of our stories are free, brought to you by Oak Ridge Today with help from our members—advertisers, subscribers, and sponsors.

But some are premium content, available only to members. Those are in-depth, investigative, or exclusive stories that are available only on Oak Ridge Today. They generally require at least four hours to report, write, and publish.

You can subscribe for as little as $5 per month.

You can read more about your options here.

We currently offer five primary subscription options to readers, and they include benefits.

Basic

  • Basic monthly subscription ($5 per month)—access premium content
  • Basic annual subscription ($60 per year)—access premium content

Pro

  • Pro monthly subscription ($10 per month)—access premium content, get breaking news emails first, and submit one press release or public service announcement per month
  • Pro annual subscription ($100 per year)—save $20 per year, access premium content, get breaking news emails first, and submit one press release or public service announcement per month

Temporary

  • Temporary access ($3 per week for two weeks)

We also have advanced subscription options. You can see them here.

We also accept donations. You can donate here.

If you prefer to send a check for a subscription or donation, you may do so by mailing one to:

Oak Ridge Today
P.O. Box 6064
Oak Ridge, TN 37831

Thank you for your consideration and for reading Oak Ridge Today. We appreciate your support.

Commenting Guidelines

We welcome comments, but we ask you to follow a few guidelines:

1) Please use your real name, including last name. Please also use a valid e-mail address.
2) Be civil. Don't insult others, attack their character, or get personal.
3) Stick to the issues.
4) No profanity.
5) Keep your comments to a reasonable length and to a reasonable number per article.

We reserve the right to remove any comments that violate these guidelines. Comments held for review, usually from those posting for the first time, may not post if they violate these guidelines. Thank you for your patience and understanding. Thank you also for reading Oak Ridge Today and for participating in the discussion.

More information is available here.

More Government News

Suggs promoted to deputy city manager

Jack Suggs Oak Ridge Electric Director Jack Suggs has been promoted to deputy city manager. He will start his new job Monday, March 8. In his new position, Suggs will help with several projects, including the new … [Read More...]

Roane State helps with experiment to provide high-speed Internet access to rural communities

Roane State Community College played a crucial role in an experiment to get high-speed Internet to rural communities currently lacking what’s become an essential component of modern life. (Photo by Yvette … [Read More...]

Parking at Melton Lake Park to be closed for regatta March 13 & 14

Rowing at Melton Hill Lake (Photo courtesy City of Oak Ridge) The parking lots at Melton Lake Park will be closed to the public during a regatta next week. The regatta, the 2021 Oak Ridge Louisville Cardinal … [Read More...]

City of Oak Ridge Seal

Oak Ridge releases water quality report

The annual water quality report is now available for viewing on the City of Oak Ridge website, and the report says Oak Ridge water was in compliance with state and federal drinking water requirements, a press release … [Read More...]

Gov. Lee lifts nursing home restrictions, extends state of emergency

Bill Lee Tennessee Governor Bill Lee on Friday said he has extended a limited state of emergency through April 28 and lifted state visitation restrictions on nursing homes and long-term care facilities. The … [Read More...]

More Government

Recent Posts

  • Suggs promoted to deputy city manager
  • Basketball: Wildcats play in sectional game tonight
  • Victim of Claxton shooting reported to be in critical but stable condition
  • Oak Ridge man dies in motorcycle crash on Oak Ridge Turnpike
  • Roane State helps with experiment to provide high-speed Internet access to rural communities
  • Parking at Melton Lake Park to be closed for regatta March 13 & 14
  • Regatta season starts next week
  • ORISE receives DOE silver award for GreenBuy program
  • Blasius to discuss Downtown Oak Ridge on Tuesday
  • Oak Ridge releases water quality report

Search Oak Ridge Today

About Us

About Oak Ridge Today
What We Cover

How To

Advertise
Subscribe

Contact Us

Contact Oak Ridge Today

Copyright © 2021 Oak Ridge Today