Forsythe Cosmetics President charged for violating Iran sanctions

Forsythe Cosmetics President charged for violating Iran sanctions

THE WHAT? The President of Forsythe Cosmetics Group, Michael Rose has been charged for his supposed involvement in a plan to skirt US economic sanctions on Iran, according to a report published by Reuters.

THE DETAILS Rose is alleged to have arranged the export of more than US$350,000-worth of cosmetics from the US to Iran, working with a Iranian-based importer who used front companies to send payments to the New York-based firm.

THE WHY? Lawyers for the respondent declined to comment on the case although William F Sweeney, an FBI Assistant Director, told Reuters, “Whatever his motivation – greed or something more sinister – we allege Mr Rose intentionally disguised his products’ ultimate destination and lied about those products’ prices to limit his customs liability.”

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