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Copyright © International Chamber of Commerce (ICC). All rights reserved. ( Source of the document: ICC Digital Library )
An Iranian man attempted to use a letter of credit (L/C) in his efforts to ship sensitive military technology to Iran.
Amir Ardebili, pleaded guilty in a US court earlier this month to plotting to ship goods to Iran that would have contravened trade sanctions imposed by Washington on exports to the Islamic republic.
Sting operation
Ardebili was caught after a three-year operation during which undercover agents with US Immigration and Customs Enforcement posed as potential suppliers or buyers.
The Iranian constantly strove to obtain better terms and cheaper prices from his suppliers.
L/Cs refused
In April 2007, he emailed an undercover agent asking them to accept an L/C instead of cash.
The agent refused this and a subsequent request for an L/C made by Ardebili in May 2007.
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