How Iran's military ran a $4bn gambling network as part of a sanctions-dodging op: Report
A Reuters investigation reveals an Iranian military-linked $4 billion gambling and crypto network used to evade Western sanctions.Summary
A Reuters investigation has uncovered a sophisticated $4 billion sanctions-evasion network used by Iranian entities to move money through illegal online gambling, cryptocurrency transactions, and an unlicensed Dubai-based exchange called Shelbit. This network provided sanctioned Iranian entities, including the central bank and the Islamic Revolutionary Guard Corps (IRGC), access to global cryptocurrency markets, including transfers to Binance.
The operation was facilitated by Shelbit, which acted as a financial hub connecting Iranian state-backed bitcoin mining and a massive Farsi-language gambling network of over 2,000 websites to international exchanges. The network was fronted by influencers Sasha Sobhani and Pooyan Mokhtari, both of whom have high-level government connections and previous convictions for illegal gambling.
Dubai's Virtual Assets Regulatory Authority (VARA) is currently investigating Shelbit for money laundering and terrorism financing violations. The investigation highlights how Iran utilizes cryptocurrency and illicit gambling networks to bypass traditional banking systems and fund its military capabilities and proxies.
(Source：Times of India)