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Famed Manhattan District Attorney Robert M. Morgenthau warned Congress on Wednesday that Iran's efforts to build nuclear weapons and ballistic missiles pose a "deadly serious" threat to the United States.

The legendary prosecutor -- whose pursuit of white-collar criminals has spanned the globe -- told the Senate Foreign Relations Committee that he has uncovered a pervasive system of deceitful practices and fraud designed to let Iran's banks skirt U.S. and international sanctions.

Sources told FOX News that the Morgenthau probe into Iranian money laundering schemes is broad and ongoing. So far, the Manhattan DA has struck a plea deal with a British bank and, separately, indicted a Chinese citizen and his company on charges related to Iran's violations of international sanctions designed to block its acquisition of nuclear weaponry.

Click here to read 'Robert Morgenthau: A Legacy of Public Service and Prosecution.'

In the British case, Lloyds Bank admitted it had engaged in a "stripping" scheme designed to hide the Iranian origin of more than $300 million in wire transfers. Bank coding information indicating an Iran address for the money was "stripped" from wire transfers. 

Some of Iran's biggest banks -- blacklisted by the U.S. and international agencies for th... >>>