Ex-McKinsey Consultant Gets 2 1/2 Years in Iran Case
Business Week
16-Aug-2010 (3 comments)

Aug. 16 (Bloomberg) -- Former McKinsey & Co. consultant Mahmoud Reza Banki was sentenced today to 2 1/2 years in prison for violating the Iran trade embargo and running an unlicensed money-transfer business.

Banki, a naturalized U.S. citizen born in Iran, was accused of running a “value-transfer” business that essentially moved money to residents of Iran from 2006 to 2009 in violation of the U.S. embargo. Banki received about $4.7 million as part of the transfer process and used the money to buy a $2.4 million condominium, invest in securities and pay credit-card bills, the government charged.

“I deeply regret everything that has happened,” Banki told U.S. District Judge John Keenan before his sentencing. “I will learn from it and be a better man.”

Keenan said sentencing guidelines called for 63 to 78 months, which he said was too long. He called Banki “a highly educated young man” who was unlikely to return to criminal activity. Banki, 35, has a PhD from Princeton University in chemical engineering.

Banki’s friends and family filled the courtroom to hear the sentencing. Before being led out, Banki said to them: “Thank you all for coming. Sorry.”

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maziar 58


by maziar 58 on

ISK don't worry the court system here is a joke and the lawyers here will file an appeal and by the time he funnels $$$$$$$$$$ the new judge will oversee the motion and rules time served. and will play 18 holes with the lawyers and count the blessing.   

p.s sorry for the young ZERENG to get caught at the wrong time and the wrong place .         Maziar


With a name like Banki,

by thexmaster on

this was only a matter of time.  Luckily, he's not going to be stoned and his lawyer hasnt been arrested.


ridiculous charges, unfair and human rights org. pretend nothing

by i_support_khamenie on

ever happened.  no one commenting, because they think if its from us justice system it must be fair, until one of their relatives get screwed unfairly.

i dont know this idiot but i believe him when he says it was all a family issue and not a business. 

bam , slam, 2.5 yrs sentence.  ridiculous