Zhenyu “Bill” Wang, 42, from Dallas, and Daniel Ray Lane, 42, from McKinney, Texas, were found guilty on Nov. 15 for attempting to violate the International Emergency Economic Powers Act (IEEPA), conspiring to violate IEEPA, and conspiring to commit money laundering. The charges stem from their efforts to engage in transactions involving sanctioned Iranian petroleum and launder the proceeds.
During 2019 and early 2020, Wang and Lane conspired to buy Iranian oil, intending to conceal its origin and sell it to a Chinese refinery in violation of U.S. sanctions. The defendants used tactics like obtaining foreign passports, sham contractual agreements, and money laundering through shell entities and offshore accounts. Lane offered to use mineral rights to launder proceeds for Iranian sellers, and Wang arranged bribe payments to Chinese officials and bankers.
Assistant Attorney General Matthew G. Olsen emphasized the Justice Department’s commitment to preventing violations of U.S. sanctions for personal gain. U.S. Attorney Jacqueline C. Romero for the Eastern District of Pennsylvania highlighted the seriousness of conspiring to violate sanctions and commit money laundering. Acting Special Agent in Charge Richard Langham of the FBI Philadelphia Field Office underscored the FBI’s dedication to stopping actions that undermine national security.
Wang and Lane, along with three co-conspirators, were initially charged in February 2020 and indicted in August 2020. They face a maximum penalty of 45 years in prison, with sentencing scheduled for Feb. 29, 2024. The FBI conducted the investigation, and Assistant U.S. Attorneys Patrick Murray and Mary Crawley are prosecuting the case, assisted by Trial Attorney Beau Barnes of the National Security Division’s Counterintelligence and Export Control Section.
By FCCT Editorial Team
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