British firm subsidiary pleads guilty in Iran plane case

By ASSOCIATED PRESS
February 5, 2010 21:43

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user uxperience almost completely free of ads
  • Access to our Premium Section and our monthly magazine to learn Hebrew, Ivrit
  • Content from the award-winning Jerusalem Repor
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

Balli Aviation Ltd., a subsidiary of a British company, pleaded guilty Friday in the illegal export of Boeing 747 aircraft to Iran.



The subsidiary will pay a $2 million criminal fine, be placed on probation for five years and agreed to a $15 million civil settlement between the US government, the subsidiary and its parent company, British-based Balli Group PLC.




Balli Aviation Ltd. conspired to export three Boeing 747 aircraft from the United States to Iran from 2005 to 2008 without having obtained a required export license, according to papers filed in federal court where the subsidiary pleaded guilty Friday. The subsidiary also admitted it violated a US Commerce Department order that bars the company from conducting transactions subject to export regulations.




An Iranian airline loaned subsidiaries of Balli Aviation money to buy the planes through a United Arab Emirates company, the court papers in the case state. Balli Aviation entered into lease agreements with a company organized under the laws of Armenia and the Iranian airline then used the capacity of the three aircraft on regular flights in and out of Iran, the papers add.


Related Content

Breaking news
July 20, 2018
Singaporean company director charged for supplying luxury goods to N.Korea

By REUTERS