A bank controlled by Turkey told the Supreme Court Jan. 17 that it should not be criminally prosecuted in U.S. courts for allegedly helping Iran defy U.S. economic sanctions because it enjoys legal immunity as an arm of the Turkish government.
The petitioner in the case of Turkiye Halk Bankasi A.S. v. United States, court file 21-1450, also known as Halkbank, is 75 percent owned by the Turkish Wealth Fund, which in turn is owned by the Republic of Turkey.
Istanbul-based Halkbank is accused of participating in a criminal conspiracy involving money laundering, bank fraud, and assisting terrorism-sponsoring Iran in evading U.S. economic sanctions….