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CSIS alleges Iran used Toronto company to wire millions to Canada despite sanctions,” by Stewart Bell and Sam Cooper, Global News, November 25, 2020:
A Toronto currency exchange business helped Iran secretly wire millions of dollars into Canada in violation of sanctions, according to a classified intelligence report that calls the financial transfers a threat to national security.
A Canadian Security Intelligence Service report obtained by Global News accuses Alireza Onghaei, the investor immigrant behind the company, of “assisting the government of Iran in the clandestine wiring of monies into Canada.”
The money was routed through Dubai in order to “circumvent sanctions,” CSIS wrote in its Dec. 20, 2019, report on Onghaei, the owner of ONG Currency Exchange Inc., on Toronto’s Yonge Street.
The total amount allegedly funneled into Canada from Iran was not known, but CSIS wrote that “we assess it to be in the millions.” One transfer alone was for $600,000, according to CSIS.
CSIS did not specify when the alleged transfers took place or what the money was used for, but wrote that its investigation was related to “foreign influenced activities … that are detrimental to the interests of Canada and are clandestine or deceptive.”
The report shows how Canadian intelligence officials suspect the Iranian regime has dodged international sanctions by passing money through the United Arab Emirates and using small currency exchange companies to move it to Canada.
The United Nations began imposing sanctions on Iran in 2006 in response to its nuclear program. Canada imposed additional sanctions in June 2010.
ONG Currency Exchange was registered as a Canadian money services business in January 2010.
Corporate records show the business was registered to Onghaei’s home address and he was the sole director. ONG offered “safe and secure” money transfers, according to its website.
The CSIS report alleged Onghaei’s company would transfer money to Canada from Bank Saderat, which is controlled by the Iranian state. The bank is the subject of Canadian sanctions, and the U.S. Treasury alleges Iran uses it to fund Hamas, Hezbollah and other terrorist groups.
During an interview with CSIS on Nov. 27 and 28, 2019, Onghaei “admitted to having owned a private money exchange company that would transfer funds from Bank Saderat and other Iranian financial actors into Canada,” according to the intelligence report…..
