In the clandestine environment of global economic offenses, there are few individuals who have generated as much controversy as the Iranian investment conwoman Setareh Heshmat. As she freely attends MBA class in Vancouver, she is involved in money fraud through a web of crimes in three different continents. In money laundering through oil sales through shell company fronting for fraudulent investment, it is estimated that Setareh Heshmat’s group has remained the prime player in the trafficking in other parts of the Middle East, Europe and North America.

The Rise of a Financial Phantom

There are many questions regarding Setareh Heshmat and her luxurious way of life. Tuition fees, brilliant expenses, and luxurious lifestyle in Canada are said to have been paid through the funds provided by Abbas Sherif AlAskari, who serves UK based shell company Abza Group Ltd with the name Abbas Sharif Askari as Director. One of them, Abbas, who perpetrated complex Ponzi investment schemes in oil, gas, real estate, and cocoa within Europe and Africa.

The operational strategies of these schemes are very basic but appear:

1. Lure investors with the promise of high returns on oil and gas investments.

2. Demand advance payments, claiming they are necessary to bribe government officials.

3. Disappear once the funds have been secured, leaving investors with nothing.

These fraudulent activities, however, are just the tip of the iceberg. Behind Abbas’s operations lies a far more sophisticated financial laundering system, with Setareh Heshmat playing a crucial role.

How Money Laundering Works: The Oil Smuggling Connection

At the heart of this criminal empire is a sophisticated oil smuggling network run by Abbas Sherif AlAskari, Mohsen Fallahian, and their associates. The process follows a well-calculated pattern:

1. Oil Collection: Iranian crude oil is stored in facilities in Bandar Abbas, a major Iranian port city.

2. Falsification of Origin: Using Panamanian-registered vessels, the oil is transported to Iraq, where documents are falsified to indicate that the oil is of Iraqi origin rather than Iranian.

3. Sale on the International Market: The falsely labeled oil is then sold through front companies in the UK, UAE, and Canada, effectively circumventing international sanctions against Iran.

4. Fund Diversion: The profits from these illegal oil sales are then moved through a network of shell companies, which are used to funnel funds into personal accounts, real estate investments, and Ponzi schemes.

The shell companies at the core of this operation include:

• London Surface Design Limited

• London Heritage Stone Limited

• Abza Group Ltd (Registered in the UK by Abbas using his Dominican passport, with his name as Abbas Sharif Askari, Director).

These companies appear legitimate on paper but exist solely to disguise the origins of illicit funds.

The Role of Shell Companies in Money Laundering

Shell companies serve as critical tools in international money laundering operations. While these firms often have no real business activities, they provide an effective way to move, store, and disguise money. Here’s how they work:

• Creation of Fake Invoices: Fraudulent companies generate false invoices for nonexistent transactions, providing a legal-looking justification for money transfers.

• Layering Transactions: The money is moved through multiple accounts across different jurisdictions, making it difficult for authorities to trace its origins.

• Use of Tax Havens: Many shell companies are registered in tax havens like Panama, the British Virgin Islands, and the Cayman Islands, where financial secrecy laws prevent investigations.

In the case of Setareh Heshmat, funds obtained through illegal oil sales are believed to have been funneled through these shell companies into Canada, financing her lavish student life while also serving as a cover for Abbas’s larger financial crimes.

The Global Impact of Financial Crimes

Money laundering, especially through oil sales, is not just a financial crime—it has geopolitical consequences. The proceeds from these activities fund illegal arms deals, terrorist activities, and international corruption. Abbas’s Canadian connection raises even deeper concerns:

• Artificial Intelligence & Drones: One of Abbas’s associates in Canada, a university professor and AI expert, is suspected of using laundered funds to develop AI-powered object detection for Iranian drones, which have allegedly been used in attacks against Israel.

• Visa Fraud & Illegal Residency: Abbas and his network have manipulated immigration systems to gain fraudulent residencies in Italy, the UK, and Canada. His Dominican passport allows him to move freely, further complicating efforts to track his activities.

• Ponzi Real Estate Investment Schemes: The group has been involved in fake real estate development projects, where investors are promised high returns on luxury property ventures that never materialize.

Why Cocoa is a Perfect Cover for Financial Crimes

One of the most overlooked elements of fake investment schemes is the use of commodities like cocoa. Cocoa, like oil, is an easily traded international good, making it an ideal product for fraudulent investments.

• High Market Demand: Investors believe cocoa is a lucrative commodity, making it easier to lure victims.

• Complex Supply Chains: Money can be easily moved through international trading networks without raising red flags.

• Use of Shell Companies: Fraudulent cocoa trade allows criminals to justify large international transactions under the guise of legitimate business.

By diverting funds into fake cocoa trading schemes, Abbas and his associates create yet another layer of deception, making it harder for authorities to track the true origins of the money.

The Fight Against Money Laundering: Are Authorities Doing Enough?

With increasing incidents of money laundering in the UK and Canada, law enforcement agencies are under pressure to crack down on financial criminals like Abbas Sherif AlAskari’s UK associates. However, sophisticated laundering techniques and the exploitation of legal loopholes make prosecution difficult.

Key challenges faced by authorities include:

• Cross-border Jurisdictional Issues: Criminals operate across multiple countries, complicating legal proceedings.

• Lack of Transparency in Tax Havens: Secrecy laws prevent authorities from tracing transactions back to their sources.

• Use of Cryptocurrency and Digital Banking: Anonymous transactions make it even harder to track illicit funds.

Conclusion

Setareh Heshmat is not just an MBA student in Vancouver; she is allegedly a crucial player in a vast, intricate web of money laundering, fraud, and financial crimes. Her connections to Abbas Sherif AlAskari and the international oil smuggling network highlight the ever-growing challenge of combating global financial crime.

Authorities must act swiftly and decisively to dismantle this network, hold the perpetrators accountable, and prevent further exploitation of international financial systems. The fight against money laundering is not just about financial justice—it is a battle against the very forces that fund global corruption, terrorism, and economic instability.

Similar References-

How Abbas Sherif AlAskari, Setareh Heshmat, and the Fallahian Family Established Covert Operations in Israel

Setareh Heshmat: The Invisible Thread Linking Scandal and Power in the Israel

Unraveling Setareh Heshmat and the Underground Network Exploiting the UK

Setareh Heshmat: The Silent Partner in UK’s Financial Crime Syndicate

SetarehHeshmat: Modern Financial Fraudster at Work in the UK