On June 3, 2026, the Department of Justice charged a 63-year-old dual U.S.-Iranian national, Jamshid Ghomi with conspiracy to violate the International Emergency Economic Powers Act (IEEPA).
Prosecutors allege he laundered more than $15 million in proceeds and used them to fund a $35 million mansion in Newport Coast, California. He purchased the vacant lot for nearly $4.5 million, spent over $10 million on construction, and received more than $7 million in foreign wire transfers into the construction escrow account.
According to the criminal complaint, Ghomi allegedly orchestrated a scheme lasting more than a decade in which he supplied U.S. origin computer networking equipment, security systems, and encryption technology to Iran’s Atomic Energy Organization, which is responsible for its nuclear program, and the Ministry of Defense and Armed Forces Logistics.
Ghomi’s Tehran-based company, Faraz Pardaz Rayaneh Co. Ltd., is accused of funneling more than 250 metric tons of controlled U.S. origin goods (primarily from 2014–2018) as part of purchases spanning 2011–2023. The company’s annual sales exceeded $10 million at points during the operation.
He allegedly shipped primarily hardware, networking equipment, security devices, and encryption hardware. Prosecutors say he used personal eBay and PayPal accounts, UAE intermediaries, including shell/front companies in Dubai, and hidden shipping routes to evade detection while laundering the funds through offshore accounts and U.S. banks.
All of these goods were shipped illegally without authorization. All such exports to Iran required a license from the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC).
Ghomi allegedly instructed overseas co-conspirators to remove his name from shipping labels and used UAE shell companies to conceal the ultimate destination. Some of the equipment reached Iran’s nuclear and military entities.
OFAC administers and enforces most U.S. economic sanctions programs, including the comprehensive Iran sanctions under the Iranian Transactions and Sanctions Regulations. It is a Treasury Department authorization.
Without an OFAC license, exporting or facilitating the export of these controlled items to Iran violates the International Emergency Economic Powers Act (IEEPA) and related trade regulations.
Assistant Attorney General John A. Eisenberg emphasized the importance of holding accountable those who supply U.S. technology to Iran’s nuclear program.
Ghomi faces up to 20 years in prison if convicted. Federal authorities are also seeking forfeiture of his $35 million Newport Coast mansion.
