Category Archives: International

Boca Raton Businessman Meets with First Lady of Armenia Anna Hakobyan

George Pagoumian of Boca Raton, FL meets with First Lady of the Republic of Armenia Anna Hakobyan in Yerevan, Armenia.

Late last year, the wife of the Prime Minister of Armenia and the Chairman of the Board of Trustees for My Step Foundation, Anna Hakobyan, met with Armenian American businessman, founder of PMA Venture Capital and friend of the foundation, George Pagoumian of Boca Raton, FL.

Mrs. Hakobyan expressed her gratitude to Mr. Pagoumian for his support to the foundation, particularly for support to the foundation’s project “Homeland Defender’s Rehabilitation Center” which was made possible through his contributions. Mrs. Hakobyan offered to accompany Mr. Pagoumian to the Center so that he could witness all of the progress and impact his contributions have made.

Mr. Pagoumian stressed that he has faith in Armenia prospering and growing, but it is going to take time. “You’ve made your step, and now Armenians from all over the world who are successful in different fields must unite in order to succeed,” he says.

One of the projects of My Step Foundation is to support soldiers who have been injured during military service and the support is provided through Homeland Defender’s Rehabilitation Center. In addition to addressing health concerns that the soldiers have, they also work to provide resources for their integration into a working society through education and skills training.

Over $406,000 has been allocated to Homeland Defender’s Rehabilitation Center by My Step Foundation.

U.S. Allocates $1.1 Million to Armenia to Respond to COVID-19 Pandemic

On March 27, the U.S. Department of State announced an assistance package to the Republic of Armenia to combat the novel Coronavirus COVID-19. According to the State Department, Armenia will receive $1.1 million in health assistance to help prepare laboratory systems, activate case-finding and event-based surveillance, support technical experts for response and preparedness, bolster risk communication, and more. The United States has invested nearly $106 million in health assistance and $1.57 billion total for Armenia over the past 20 years.

Armenia declared a 30-day ‘State of Emergency’ on Monday, March 16 that is slated to last until April 14 as the virus spreads throughout the region.

Comparatively, the two other South Caucus nations, Azerbaijan and Georgia, will also receive U.S. federal assistance at similar levels. Azerbaijan is slated to receive $1.7 million in health assistance to help prepare laboratory systems, activate case-finding and event-based surveillance, support technical experts for response and preparedness, bolster risk communication, and more. Over the past 20 years, the United States has invested nearly $41 million in health alone in Azerbaijan, and more than $890 million in total assistance, the State Department noted.

Georgia is slated to receive $1.1 million in health funding will help prepare laboratory systems, activate case-finding and event-based surveillance, support technical experts for response and preparedness, bolster risk communication, and more. The United States has provided nearly $139 million in health assistance and more than $3.6 billion in total U.S. assistance over the past 20 years.

U.S. Indicts Turkey’s Halkbank for Illegal Transfer of Billions of Dollars to Iran

By Harut Sassounian

Halkbank, whose majority shareholder is the Turkish government, pleaded not guilty in New York on March 31, 2020, to criminal charges that it helped Iran illicitly transfer tens of billions in dollars and gold, wrote Aykan Erdemir and Philip Kowalski in an essay published on April 3 by the Foundation for Defense of Democracies, a policy institute based in Washington, D.C.

On October 15, 2019, the Federal Southern District Court of New York accused Halkbank of “fraud, money-laundering and sanctions offenses,” alleging that Halkbank and its executives aided Iranian-Turkish gold trader Reza Zarrab in a “multi-billion dollar scheme to circumvent U.S. sanctions on Iran.”

Initially, Halkbank refused to appear in court “claiming that the criminal charges are beyond the U.S. court’s jurisdiction,” Erdemir and Kowalski wrote. However, when “prosecutors proposed escalating contempt fines which could have totaled $1.8 billion after eight weeks,” the bank agreed to respond to the court charges.

Originally, the Turkish and Iranian officials had concocted a scheme to exchange gas for gold to circumvent the U.S. sanctions, by claiming that the gold was headed not to Iranian government entities but to Iran’s “private sector.” Erdemir and Kowalski stated that “the scheme ultimately yielded the Iranian regime some $13 billion in Turkish gold between 2012 and 2013. Once the U.S. Congress introduced legislation to close the ‘golden loophole’ in 2013, Iran used Turkish front companies to issue invoices for fake transactions of food and medicine that fall under the humanitarian exception to U.S. sanctions. In one infamous case of over-invoicing, a Turkey-based luxury yacht company used Halkbank to sell nearly 5.2 tons of brown sugar to Iran’s Bank Pasargad at the price of approximately $240 per pound.”

This scheme was first exposed in December 2013 by Turkish investigators who implicated then Prime Minister Recep Tayyip Erdogan, several of his ministers and other senior officials, including Halkbank’s managers. Erdogan shut down the probe by firing the police officials, prosecutors and judges!

The scandal resurfaced in March 2016 when Iranian-Turkish ring-leader Reza Zarrab was arrested in Miami after he flew to Florida to visit Disney World with his family.

In March 2017, U.S. authorities arrested Halkbank Deputy CEO Mehmet Hakan Atilla upon his arrival in New York. Zarrab pleaded guilty and agreed to testify in court against Atilla. Zarrab confessed that he had bribed senior Turkish ministers and top Halkbank executives. He even implicated Erdogan in the corruption scheme, stating that Erdogan had personally approved the illegal actions.

“Halkbank’s Atilla received a 32-month prison sentence in May 2018, a significantly shorter one than prosecutors had originally sought,” according to Erdemir and Kowalsky. “After Atilla’s return to Turkey, Erdogan rewarded the convicted sanctions buster by appointing him CEO of the Istanbul stock exchange, following the president’s established pattern of rewarding other senior accomplices of Zarrab with cushy appointments.”

Erdogan personally appealed to Pres. Trump and other senior officials to block the court case of Halkbank, claiming that US courts have no right to try Turkish citizens. The Courthouse News Service reported that “One of Zarrab’s shell companies, Royal Holding A.S., listed its address as a 35th floor unit in Trump Towers Istanbul. Before pleading guilty to money laundering, sanctions evasions and bribery, Zarrab retained Trump’s personal attorney Rudy Giuliani to lead a campaign of shadow diplomacy that echoed the one in Ukraine. Shuttling between Turkey’s capital of Ankara and the White House, Giuliani met with Erdogan, Trump, former Secretary of State Rex Tillerson, and other senior U.S. and Turkish officials in an attempt to negotiate a prisoner swap. The New York Times reported that Tillerson resisted the White House pressure for a deal that would have effectively killed the Zarrab case.”

Erdogan’s and Giuliani’s efforts succeeded in stalling the prosecution for almost two years, but ultimately failed when the U.S. Attorney’s Office for the Southern District of New York went forward with the charges last October.”

Senator Ron Wyden, the Senate Finance Committee’s top Democrat, told Courthouse News Service: “It sure looked like Donald Trump was doing the bidding of Erdogan and Giuliani, and there were real questions about whether this was about getting Halkbank off the hook, even though there were allegations that they were orchestrating the largest sanctions evasion scheme in history.”

During President Trump’s Senate impeachment inquiry earlier in 2020, Senators Wyden, Robert Menendez and Sherrod Brown asked a joint question which was read aloud in the Senate by Chief Justice John Roberts: “Has the president engaged in a pattern of conduct in which he places his personal and political interests on top of the national security interests of the United States?”

Wyden told Courthouse News Service: “Donald Trump has significant financial interest in Turkey,” referring to Trump Towers Istanbul. “We read regularly that his family has forged personal relationships with important Turkish officials. And so, you have to ask — which is what is part of our inquiry — whether the Trump policy toward Turkey is in a significant way colored by his personal and political interests and not the national security of the country.” If Halkbank is found guilty of violating U.S. sanctions, the court could impose a hefty penalty, regardless of Tump’s wishes.