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Judge Sentences Zarrab to Time Served, Dismisses Halkbank Charges
U.S. District Judge Richard Berman sentenced Turkish-Iranian trader Reza Zarrab to time served on July 14, 2026. Zarrab cooperated in the probe of Halkbank's alleged sanctions violations. The bank charges were dismissed last month after a compliance deal.
Jul 14, 11:46 AM·1m read1 source
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U.S. District Judge Richard Berman sentenced Reza Zarrab to time served on July 14, 2026, at a hearing in Manhattan federal court. Al-Monitor reported that prosecutors had asked the judge to consider Zarrab's cooperation when determining punishment.
Zarrab, a 42-year-old Turkish-Iranian gold trader, pleaded guilty on October 26, 2017, to conspiring to evade U.S. sanctions. He testified against former Halkbank official Mehmet Hakan Atilla, who was convicted of helping Iran evade sanctions.
The U.S. charged Halkbank in 2019 with secretly transferring $20 billion of restricted Iranian funds. The charges included converting oil revenue into gold and cash and documenting fake food shipments.
The bank pleaded not guilty. Berman dismissed the charges against Halkbank last month. The Justice Department said in March it had reached a deal requiring the bank to hire a monitor to review its sanctions and anti-money laundering compliance.
Al-Monitor reported that the Justice Department linked the agreement to Turkey's role in securing a ceasefire last year between Israel and Hamas. The countries have seen their best ties in decades since President Donald Trump returned to the White House last year.
