Reza Abbaszadeh Finally Cleared His Name After Being Accused of Manipulating the Market in 2019.
According to the US Attorney's office, Reza Abbaszadeh was not authorized to lead the investors to buy the São Paulo, Toronto and Ireland Stock Exchanges in 2019. As of the time, his lawyers have tried to prove them wrong by showing official pieces of evidence.
This morning, after almost 2 years of active investigation, Attorney's Office officially announced his innocence and closed the against him.
Reza Abbaszadeh is an internationally renowned businessman. He became famous after working with top investment banking companies worldwide at a very young age. During that time, he was accused of manipulating the market as RIS suspected him of money laundering. IRS went after his money with a bank levy.
Federal prosecutors said that the accusation was based on several testimonies that indicate Reza Abbaszadeh had a prominent role in market manipulation and money laundering that involved countries such as the United States, Canada, Panama, Ireland and the Bahamas. However, we could not find anything that leads us to Abbaszadeh.
On Friday, the U.S. attorney's office finally filed a motion to dismiss the charges pending against Abbaszadeh and explained that the court has withdrawn the guilty plea and set aside the guilty verdict against him since those testimonies were not admissible.
As of this moment, Reza Abbaszadeh or his lawyers have not reacted to this decision yet, but Abbaszadeh Enterprises, Reza's business management company headquartered in Los Angeles, released a press on three elements that must be proven in a money laundering case
1-The defendant was aware that the money involved was derived from a fraud
One should be aware that they were 'laundering' money came from a criminal action to be named a criminal. Otherwise, you have not done money laundering if you "laundered" money that you did not suspect derived from the commission of a crime. However, keep in mind that the prosecutor's burden of evidence is comparatively low. They need to prove that you were aware that it was obtained unlawfully in some manner - not that you know where it came from. They can prove this with circumstantial proof.
2-A financial activity must have been started or completed by the defendant
A purchasing, donation, transfer, loan, loan, withdrawal, exchange of money, an extension of credit, purchase or sale of a safe-deposit box, the transaction between accounts, or any other form of payment, transfer, or distribution to, by, or through a financial entity is legally classified as a "financial transaction." The prosecutor must show that you were involved in the beginning or end of one of these transfers.
3- The defendant took place in one of the following steps of money laundering
To accuse anyone of money laundering, the court must show that the suspect did participate in the following three phases of money laundering:
Transfer: The suspect must have placed a large amount of money of unlawfully acquired funds in a financial company. Federal law establishes the maximum amount of cash that can be deposited without triggering suspicion of money laundering. If the institution has noted that the consumer owns a cash-rich company such as a restaurant, a cash transfer of more than $10,000 will raise a red flag.
Layering: Once the suspected suspicious money has cleared in a financial institution, the suspect may have participated in misleading financial practices to make the income appear to be part of his or her regular business activities. A prosecution can provide evidence in the form of a set of wire transfers to various companies in and out of the country.
Implementation: The convict must have taken the money back into the local economy identified as legal fee after numerous transactions had processed purportedly illegal cash.
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