The U.S. Treasury says it has sanctioned eight Canadian businesses for allegedly helping evade sanctions on Iran’s government, including firms that also worked with Ryan Wedding.
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The U.S. Treasury Department has imposed sanctions on eight Canadian businesses, alleging they helped evade sanctions on Iran’s government.
The Treasury said the sanctioned money services businesses were located in British Columbia and Ontario and were targeted in coordination with FINTRAC, Canada’s anti-money laundering watchdog.
The department said several of the listed entities also worked with Ryan Wedding, the alleged drug kingpin and former Canadian Olympic snowboarder, and alleged that he used these services to launder “millions of dollars” in drug proceeds through the transfer of digital assets before he was arrested in January.
In its announcement, Treasury Secretary Scott Bessent said Canada “cannot be a safe haven” for sanctions evasion and financing the Iranian government. The U.S. Treasury named companies including the Million Exchange, NIA Nations Currency, Farah Exchange, Darvish Exchange and several numbered companies based in Ontario and British Columbia.
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