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.