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.
