A 63-year-old dual U.S.-Iranian citizen faces federal charges for allegedly funneling sensitive American technology to Iran’s military and nuclear programs while using millions in illicit proceeds to construct a lavish mansion in Newport Coast, California. Jamshid Ghomi, founder and CEO of Tehran-based Faraz Pardaz Rayaneh Co. Ltd., stands accused of conspiracy to violate U.S. sanctions laws. Federal prosecutors revealed Wednesday that the businessman allegedly spent over a decade supplying export-restricted American networking, security and encryption equipment to Iranian government entities. The elaborate scheme generated substantial profits that Ghomi allegedly laundered through offshore accounts before financing his multimillion-dollar residence.
According to court documents, Ghomi orchestrated a complex international operation to acquire sophisticated U.S. equipment and channel it to sanctioned Iranian organizations through intermediaries in the United Arab Emirates. Assistant Attorney General for National Security John A. Eisenberg stated that Ghomi enriched himself by supplying technology to the Atomic Energy Organization of Iran and other entities responsible for the country’s nuclear program. The arrest represents part of a broader federal initiative targeting Iranian procurement networks and intelligence operations on American soil.
Offshore network disguised millions in Iranian profits
Investigators traced an extensive money laundering operation spanning multiple jurisdictions. Ghomi allegedly moved proceeds from his Iran-based business through a network of offshore companies and exchange houses located in the British Virgin Islands, Hong Kong, Turkey and the United Arab Emirates. Over a 13-year period, more than $15 million tied to Ghomi’s Iranian technology company flowed into American financial accounts, including those used to finance construction of his Newport Coast property. Many wire transfers contained false descriptions such as “Buying Goods” and “For Consulting Fees” to conceal their true origin.
Federal prosecutors contend Ghomi made deliberate efforts to disguise the funds’ connection to his sanctioned Iranian business activities. He allegedly reported the incoming money to the IRS as a foreign inheritance while declaring minimal income on federal tax returns. Court documents reveal his highest reported annual income reached approximately $20,684. Authorities say he claimed the Earned Income Tax Credit, a benefit designed for low and moderate-income workers, across multiple tax years despite financing construction of a mansion valued at roughly $35 million.
Multimillion-dollar mansion built with sanctioned funds
The Newport Coast residence at the center of the investigation spans 14,000 square feet and represents a significant portion of the alleged laundered proceeds. Ghomi purchased a vacant lot in 2010 for approximately $4.5 million and subsequently spent more than $10 million on construction. Federal authorities allege over $7 million in foreign-source wire transfers linked to the sanctions-evasion scheme flowed directly into escrow accounts used to finance the mansion’s development. The property showcases the scale of profits allegedly generated through illegal technology exports to Iran.
First Assistant U.S. Attorney Bill Essayli emphasized the seriousness of the allegations. He stated Ghomi is accused of aiding declared enemies by selling U.S.-origin computer networking parts to Iran and earning millions in violation of sanctions laws. Essayli stressed that laws prohibiting business with one of the world’s largest state sponsors of terrorism must be enforced and obeyed. The case highlights how illicit international trade can fund luxurious lifestyles on American soil.
Sensitive American technology supplied to Iranian military entities
Court filings detail how Faraz Pardaz Rayaneh Co. Ltd. allegedly supplied American-made networking, security and encryption products to Iran’s most sensitive government organizations. The list of recipients included the Atomic Energy Organization of Iran, the Ministry of Defense and Armed Forces Logistics, Iran Computer Industries and other military-affiliated entities. Prosecutors say the company provided U.S.-origin networking equipment to the atomic energy organization from 2017 through 2023. The agency oversees Iran’s nuclear program, including uranium enrichment and centrifuge operations, and received sanctions from the U.S. State Department in 2020.
The scope of alleged illegal exports proved substantial:
- More than 250 metric tons of networking and computer equipment shipped to Iran between 2014 and 2018 alone.
- Hundreds of individual purchases of restricted American technology made through intermediaries.
- Systematic efforts to route shipments through UAE-based front companies to conceal final destinations.
- Instructions to associates to keep Ghomi’s name off invoices and shipping documents.
- Multi-year supply relationship with Iran’s nuclear program despite active U.S. sanctions.
Investigators say Ghomi took deliberate steps to conceal the operation’s true nature and scope. He worked to ensure documentation did not reveal his involvement or the equipment’s actual destination in Iran. The sophisticated smuggling network operated for years before federal authorities uncovered the alleged scheme.
Federal crackdown targets Iranian procurement networks
The charges against Ghomi arrive amid intensified federal enforcement against Iranian attempts to obtain American technology for military purposes. Recent years have seen multiple Iranian nationals and operatives charged with acquiring U.S. technology for defense applications and acting on behalf of the Iranian government. Federal authorities have prioritized disrupting these procurement networks that seek to circumvent sanctions and export controls. The cases often involve complex international financial arrangements designed to obscure the ultimate recipients of controlled technology.
If convicted on all charges, Ghomi faces up to 20 years in federal prison. The case demonstrates the government’s commitment to prosecuting violations of sanctions designed to prevent adversarial nations from obtaining American technology. Prosecutors argue the alleged conduct directly undermined national security by providing sophisticated equipment to Iran’s nuclear and military programs. The investigation required coordination among multiple federal agencies to trace the international financial flows and identify the ultimate recipients of the exported technology in Iran.
