Newport Coast CEO Arrested for Smuggling U.S. Tech to Iran, June 04

Jamshid Ghomi, a 63-year-old dual U.S.-Iranian citizen and CEO of a Tehran-based tech company, was arrested Wednesday on federal charges of violating U.S. sanctions. Prosecutors say he spent 12 years smuggling over 275 tons of American networking equipment to Iran’s nuclear and military agencies without authorization. The case began as a tax investigation and reveals how millions in illegal proceeds were laundered through shell companies.

How the Smuggling Scheme Worked

From 2011 to 2023, Ghomi used personal eBay and PayPal accounts to purchase U.S. computer networking and encryption equipment from suppliers in Minnesota and Nebraska. He routed the goods through intermediaries and front companies in the United Arab Emirates to conceal Iran as the final destination. Prosecutors say Ghomi arranged the smuggling of more than 275.6 tons of networking equipment into Iran, making millions of dollars in the process. He directed co-conspirators to keep his name off shipping paperwork and hide U.S.-origin equipment inside larger shipments to evade detection.

Who Received the Equipment

Ghomi’s company, Faraz Pardaz Rayaneh Co. Ltd., supplied equipment to Iran’s Atomic Energy Organization, which oversees the country’s uranium-enrichment and nuclear programs. From 2014 to 2022, the company also provided security and encryption hardware to Iran’s Ministry of Defense and Armed Forces Logistics. FPR’s annual sales exceeded $10 million, with a customer base that included sensitive Iranian state entities. At no time did Ghomi obtain the required license from the U.S. Department of the Treasury to conduct these transactions.

Money Laundering and Asset Seizure

Ghomi allegedly earned over $15 million from the scheme between 2011 and 2023 and funneled the proceeds into U.S. accounts via shell companies in the British Virgin Islands, Hong Kong, Turkey, and the UAE. He falsely reported the transfers as foreign inheritances or consulting fees on his tax returns. Despite this, he reported virtually no income to the IRS, maxing out at $20,684 in a single year, and claimed the federal Earned Income Tax Credit for low-income families across seven tax years. Federal authorities are seeking to seize his custom Newport Coast mansion, valued at approximately $35 million, which he purchased with illegal proceeds.

Charges and Penalties

Ghomi is charged with conspiracy to violate the International Emergency Economic Powers Act, a federal law that prohibits exporting goods or technology to Iran without authorization from the Office of Foreign Assets Control. If convicted, he faces a maximum sentence of 20 years in federal prison. His arraignment is scheduled for July 13, 2026. First Assistant U.S. Attorney Bill Essayli stated that the case began with an IRS Criminal Investigation into wire transfers from overseas and expanded into a larger sanctions violation scheme.

Final Thoughts

Ghomi’s arrest demonstrates federal enforcement of Iran sanctions and reveals how technology can be smuggled through intermediaries. The case underscores the government’s commitment to seizing assets and prosecuting those who aid sanctioned regimes.

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