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The Indonesian Currency Law and Bank Indonesia ( BI )
Regulation No. 17/3/PBI/2015 regarding the Mandatory Use of Rupiah
restrict most transactions within Indonesian territory from being
carried out using foreign currency. Core upstream activities in
Indonesia are exempted from this requirement for a certain period
of time, such as expenditures in relation to the first three years
of the exploration period (the Firm Commitment period),
over/under lifting, and domestic oil and gas sales transactions by
upstream players, which are exempted for 10 years as of February
In a joint statement, the United States Attorney for the Southern District of New York Audrey Strauss, Assistant Director-in-Charge of the New York Office of the FBI William F. Sweeney Jr., and Special Agent in Charge of the New York Field Office of the U.S. Department of Commerce, Office of Export Enforcement (DOC-OEE) Jonathan Carson announced that Rose was arrested Tuesday and will be presented later in the day in Manhattan federal court.
“As alleged, Michael Rose participated in a years-long scheme to violate our sanctions by surreptitiously exporting cosmetics to Iran via front company intermediaries in the Middle East, Strauss said in a statement.
US businessman arrested for breaching Iran sanctions thenationalnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenationalnews.com Daily Mail and Mail on Sunday newspapers.
Feds: CT man smuggled his company s cosmetics into Iran
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A file photo of the scales of justice.Flickr / Contributed Photo
RIDGEFIELD A local man has been accused of participating in a years-long scheme to smuggle cosmetics in Iran while he served as president of a New York company, according to federal prosecutors.
Michael Rose, 50, of Ridgefield, was charged by an indictment Tuesday with conspiring to violate the International Emergency Economic Powers Act, conspiring to launder money and conspiring to commit bank fraud. If convicted, the first and second offenses each carry a maximum sentence of 20 years in prison, and the third carries a maximum 30-year term.
Feds Accuse President of New York-Based Makeup Company of Violating Iran Sanctions msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.