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US targets alleged 'front' companies

by isleofman.com 2nd December 2010

America's Treasury has confirmed sanctions against ten businesses linked to Iranian nuclear weapons programs, eight of them based in the Isle of Man.

The firms targeted were shipping companies registered in Bucks Road, Douglas, and said to be fronts for the Islamic Republic of Iran Shipping Line which is accused of carrying proscribed, or forbidden, military cargoes.

Earlier this year, allegations about arms shipments being sent to Sudan were made by the BBC following stories about Iranian ships being re-registered by Island-based companies.

One of those in the spotlight of international attention was a firm where chairman of Ramsey Commissioners' Nigel Malpass is a director. He denied any wrongdoing.

The US Treasury says it will expose Iran's conduct for as long as it uses front companies to hide its activities.

Posted by isleofman.com
Thursday 2nd, December 2010 08:03pm.

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