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Related Country:
- Turkey
Erdal Kuyumcu, CEO of New York-based Global Metallurgy LLC, pleaded guilty in a New York court to one count of conspiring to violate the International Emergency Economic Powers Act. Kuyumcu conspired to obtain and export over 1,000 pounds of a metallic powder composed of cobalt and nickel from the United States to Iran without a required license from the U.S. Treasury Department's Office of Foreign Assets Control. Kuyumcu, 44, and his co-conspirators arranged to ship the metallic powder to Turkey to conceal the identity of the Iranian end-user. The powder has applications in nuclear technology, missile production, and aerospace. Kuyumcu faces a sentence of up to 20 years in prison and a $1 million fine.
