U.S. DOJ files civil forfeiture to seize over $15M from an Iranian oil network using front companies like Wellbred Capital that allegedly laundered funds to support IRGC and terrorist operations

The funds allegedly supported the National Iranian Oil Company (NIOC), the IRGC, and IRGC-Quds Force, all designated terrorist organizations, in violation of U.S. sanctions under the International Economic Emergency Powers Act (IEEPA). Shamkhani’s network operated a fleet of vessels, front companies, and shell firms—including Wellbred Capital Pte. Ltd. and Wellbred Trading DMCC—to launder profits from Iranian and Russian oil sales, conceal Iranian involvement, and fund terrorist activities. U.S. authorities, including DOJ, OFAC, FBI, HSI, and IRS-CI, emphasized coordinated enforcement to dismantle the network, protect the U.S. financial system, and prevent funds from reaching Iran’s terrorist proxies…