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5 accused of trying to trade in sanctioned Iranian oil

6 months 6 hours 56 minutes ago Tuesday, February 11 2020 Feb 11, 2020 February 11, 2020 4:15 PM February 11, 2020 in News - AP Texas Headlines

DALLAS (AP) - A federal indictment accuses five men of trying to trade in Iranian oil in violation of U.S. trade sanctions. The indictment returned by a federal grand jury in Philadelphia names Zhenyu Wang, Robert Thwaites and Nicholas James Fuchs, all of Dallas, Daniel Ray Lane of McKinney, Texas, and Nicholas Hovan of New York City. The five are accused of trying to buy oil from Iran and sell it to a refinery in China. The complaint alleges that they planned to make two shipments of oil per month with an expected profit of $28 million per month.

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