The US Treasury this week blacklisted two South African-registered companies, identified as key nodes in a complex operation allegedly laundering billions of dollars into the global economy, on behalf of the leadership of beleaguered Iran. The two entities – One Vision Investments 5 (Pty) Ltd (OVI) and One Class Properties (Pty) Ltd (OCP) – are linked to a property portfolio worth billions of rands, which includes severallandmark developments in Cape Town. They were named in the US Treasury announcement as part of a tangled network of37 companies operating around the globe, but ultimately traced back to an Iranian controlling entity colourfully named The Execution of Imam Khomeini’s Order. (EIKO). The blacklisting means that the companies are forbidden from doing business in or with the US. The properties involved are project-managed by the South African Siltrust Group of companies, but majority-owned by OVI and OCP, as well as a third Iranian-owned entity, which was not listed by the US Treasury. Asked to comment this weekend, Siltrust’s Mustour Abrahams confirmed OVI and OCP’s funding for, and majority ownership of the portfolio, and his company’s role as contracted developer and operator. Included in the list of assets managed by Siltrust is the Sandown Centre and Food Lovers Emporium complex in Parkands, on therapidly developing West Coast. Comprising two separate components, one a shopping centre of nearly 4 000m2 and a second mixed-use development of some 6 000m2, the centre houses, in addition to a substantial Food Lovers Market outlet, tenantslike KFC, Tiger Wheel and Tyre, and Vida e caffe. Also included in the portfolio are two major upmarket residential developments in the Big Bay area, as well as a lower-income complex off Koeberg Road in Brooklyn and several individual houses in Plattekloof. And there is the Ashwood Centre, another major commercial/residential development in Parklands which is described on Siltrust’s website as “mixed-use development catering for a large anchor retailer, with smaller facing into a major commercial node”, together with “apartments on the upper floors above the commercial spaces and individual dwelling units adjacent to the commercial site”. The website puts a value of R125 million on the Ashwood development alone. Siltrust values another development connected to OVI, a beachfront complex at Velddrift/Laaiplek, as being projected at R166m on completion. Abrahams said the relationship between Siltrust and the Iranian investors dated back to the late 2000s, when he was introduced to Iranian national Gholam Hossein Amouhadi in connection with the development of two properties owned by Amouhadi in Langebaan. Amouhadi is the sole director of OVI, and one of four active directors listed for OCP. Collectively, the Iranians are linked to a more substantial network of companies, some of which are active in the chemicals sector and others in unspecified import and export activities. Another company listed by Siltrust as an affiliate, and identified as Subcolex, appears to correspond to another Iranian-controlled entity. OCP director Taj Anvary yesterday confirmed that he was Iranian by birth, but told Weekend Argus he had taken out South African citizenship, and had no dealings whatsoever with the Khamenei government. “I am just a minority shareholder in two properties,” Anvary said, but confirmed that much of the funding brought by other shareholders had emanated from Iran. Amouhadi could not be contacted, and is believed to be abroad. The blacklisting of the two entities comes against the backdrop of dangerously escalating tensions between a US-led alliance and Iran, over the latter’s refusal to abandon or allow scrutiny of its ongoing nuclear programme. Iran insists the programme is peaceful and geared to generating power – with the US accusing the Iranians of military ambitions in the nuclear field which, if brought to fruition, would dramatically shift the balance of power in the volatile Middle East. UN sanctions in response to Iran’s nuclear programme were first implemented in 2006, and subsequently deepened by resolutions in 2007, 2008 and 2010. EIKO allegedly moves undisclosed assets of Iran’s secretive leadership in a way that, according to the Americans, generates and controls “massive off the books investments, shielded from the view of the Iranian people and international regulators”. The US charges that EIKO controls and generates tens of billions of dollars a year in “corporate profits at the expense of the Iranian people”. Siltrust’s Abrahams ex-pressed surprise at thetargeting of the two companies, saying that a delegation, which apparently included Amouhadi, travelled to the US last year to clarify matters, and – as Abrahams understoodit – had been able to answer questions to the satisfaction of the Americans. DA Defence spokesman David Maynier said South Africa “seems to be a preferred sanctions-busting base for Iran”. “So it comes as no surprise that two companies, allegedly forming part of a network of companies used to circumvent international sanctions, have been identified operating right under our noses in Cape Town.” Questions to the Depart-ment of International Relations and Co-operation were not answered when going to press. US embassy spokesperson Catherine Hill-Herndon said yesterday the embassy could not comment as it was a Treasury matter. - Weekend Argus
Posted on: Sun, 09 Jun 2013 13:00:16 +0000
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