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Al Fida International received $2,100,000 in a Swiss bank account from LCM Alliance in 2012 for construction equipment. It could not be determined who owns the company.
Based in Dubai, Al Fida was one of two companies Iran used to evade sanctions in order to access foreign currency by providing financial services to Iran’s Bank Mellat, which was blacklisted by the US for its involvement in Iran’s nuclear program.
Bank Mellat used an account at Al Fida to transfer currency to another company which shares its address, Al Hilal Exchange, to obscure the origin of the funds.