By using aliases, LIMMT fooled U.S. banks into processing dozens of illegal transactions, Morgenthau said. "Our banks have high standards and sophisticated systems to stop these transactions, but this conduct was specifically designed to defeat their systems," he said.
Some of the U.S. banks involved were Bank of New York Mellon Corp., Bank of America Corp. and JPMorgan Chase & Co., Morgenthau said.
The U.S. Department of the Treasury's Office of Foreign Assets Control sanctioned LIMMT in 2006 for its role in the proliferation of weapons of mass destruction to Iran, Morgenthau said.
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