Former TVA VP pleads guilty in investment scheme

Tools
  • Print
  • 0 Comments
By AP

Created:

Updated: Wed, 04 Sep 2013 08:16:16 EST

KNOXVILLE, Tenn. (AP) — A former Tennessee Valley Authority vice president has pleaded guilty to sending $600,000 to Iran for investment purposes and lying on his tax returns about his interest in a foreign bank account. U.S. Attorney William C. Killian's office said 58-year-old Masoud Bajestani (bah-jes-TAH'-nee) pleaded guilty Wednesday in U.S. District Court in Knoxville to conspiracy to violate the International Emergency Economic Powers Act and Iranian Transactions Regulations and two counts of filing false income tax returns. The Iranian Transactions Regulations impose economic sanctions against Iran, making it unlawful to make financial investments in Iran without authorization. Prosecutors said Bajestani agreed to forfeiture of the $600,000 and is to be sentenced Jan. 15. Bajestani was a vice president at the Watts Bar Unit II nuclear power plant during its construction phase.

What's on WGXA

What's On Now

1:00 AM - How I Met Your Mother

What's On Next

1:30 AM - Judge Alex

Tonight

8:00 PM Sleepy Hollow

9:00 PM Gang Related

10:00 PM WGXA News @ 10pm

What's On Now

12:37 AM - Nightline

What's On Next

1:07 AM - It's Always Sunny in Philadelphia

Tonight

8:00 PM The Quest

9:00 PM Rookie Blue

10:00 PM NY Med