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Two Texas Men Sentenced for Illegally Selling Iranian Oil to China

The scheme, involving masked origins and money laundering, aimed to evade U.S. sanctions and profit from substantial oil shipments.

  • Zhenyu Wang and Daniel Ray Lane sentenced to 45 months in prison for violating U.S. sanctions and money laundering.
  • The operation planned to sell large quantities of Iranian oil to China, starting with a 500,000-barrel shipment.
  • Wang played a key role by connecting with Chinese buyers and arranging bribes to facilitate the illegal transaction.
  • Lane used his business to help launder proceeds, including purchasing a cash machine for counting laundered money.
  • The conspirators believed they could make significant profits, with plans to scale up shipments to one or two million barrels monthly.
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