Setareh Heshmat: Modern Financial Fraudster at Work in the UK

 Setareh Heshmat was once an ordinary student who was in the University of British Columbia in Vancouver. However, she is quite popular in financial networks, but not for something that anyone could have expected, and in fact, it is not something good at all. This is Setareh Heshmat’s story narrated in the large matrix of money laundering, international smuggling of petroleum and other criminal organizations beyond the university campuses she once familiarized herself with. Even her studies were quite straightforward – as an academician, she was involved in a money laundering scheme, which cut across countries, continents and even money contrary to the rules of academia that she pursued.

The Mysterious Beginnings of Setareh Heshmat’s Involvement in Financial Crime

Thus, Setareh Heshmat’s life story began in a family which maintained close relations with tycoons in the political arena of the Middle Eastern region. Her existence suddenly changed drastically when she had relations with Abbas Sherif AlAskari, a man associated with a criminal organization that threatened the economic scene of the global world. This was just the least of the iceberg as Abbas had close relations with the Iranian regime. He was associated with people like Setareh Heshmat, who exploited their positions as well as the institutions such as universities, businesses and financial systems to provide a link in money laundering on a very large scale.

Setareh's involvement started innocently enough. It seemed to be noble at first and many women fall for this, Abbas paid for her university fees and all her living expenses. But what looked like helping out financially became more of engaging in other unlawful activities as regards to money. Setareh Heshmat soon came to know that her educational needs were being financed through the ill-gotten money which had come from bootlegging of oil and various unfair businesses. 

The Role of Shell Companies in Money Laundering

As Setareh’s involvement deepened, she was introduced to the real backbone of Abbas Sherif AlAskari’s UK operations: a network of shell companies strategically positioned across the globe. These companies served one sole purpose: to hide the illicit nature of the funds they funneled. Shell companies are not unusual in business, but when they’re used for money laundering, their true nature becomes chillingly clear.

  • London Surface Design Limited and London Heritage Stone Limited were two of the most important of these shell companies, such as Abza Group Ltd., based in the UK. On the surface, they appeared to be legitimate construction and design firms. However, their true role was far more insidious. They were used as fronts to move large sums of money from one account to another—hiding the money’s origin and making it difficult to trace. 

  • The Impact of Shell Companies: The use of these businesses to obscure financial activities not only evaded detection from authorities but also made it incredibly difficult to track where the money was coming from. With no physical assets or real operations behind them, these shell companies provided the perfect cover. They allowed Setareh Heshmat’s UK associates to move funds through international banking systems without attracting the scrutiny of law enforcement.

Oil Smuggling: A Hidden Multibillion-Dollar Industry

  • The Smuggling Process: The operation began in Bandar Abbas, a port city in southern Iran, where vast quantities of crude oil were held in storage. Despite international sanctions, Abbas and his network controlled large fuel storage facilities, making it possible to sell oil to countries that weren’t legally allowed to purchase it. 

  • Falsifying the Origin of the Oil: Upon arrival in countries like Iraq, the oil’s origin was falsified. The documents would be altered, changing the origin of the oil from Iran to Iraq, allowing it to be sold on the global market without suspicion. This “dirty oil,” as it came to be known, was then sold to unsuspecting buyers across the world, funding not only illicit operations but also fueling the pockets of criminals, including Setareh Heshmat’s Israel partners.

The sophisticated nature of this oil smuggling network revealed just how far-reaching the operation was. It wasn’t just about selling oil illegally—it was about laundering money through global trade routes, making it almost impossible for authorities to trace. 

Increasing Incidents of Money Laundering in the UK

The United Kingdom, often seen as a financial hub, has become one of the world’s hotspots for money laundering. According to recent reports, the increasing incidents of money laundering in the UK have been largely attributed to the use of shell companies and the exploitation of weak regulatory systems.

  • A Growing Problem: The issue isn’t limited to just one case. Authorities have discovered that several prominent financial institutions and companies are being used as conduits for laundering illicit funds. The use of shell companies, fake investments, and covert transactions has made the UK a target for international criminals who seek to exploit its financial system.

  • Setareh’s Role: Through her involvement with Abbas Sherif AlAskari’s UK associates, Setareh became one of the key players in this growing web of deceit. Whether it was by helping manage bank accounts or overseeing the operations of fraudulent companies, she was a crucial part of the money-laundering puzzle.

The Web of International Financial Systems: Exploiting Weaknesses

One of the most troubling aspects of Setareh Heshmat’s UK network is how it exploited the weaknesses in international financial systems. Whether through fraudulent companies, manipulated documents, or illicit transactions, this network operated with a sense of impunity.

  • Diverting Business Funds to Personal Accounts: Setareh Heshmat wasn’t just involved in the movement of illicit oil funds; she was also a part of efforts to divert business funds into personal accounts. Through this method, large amounts of money could be funneled out of legitimate companies and into the hands of those at the top of the network. 

  • International Cooperation: The network wasn't just operating in one country. It stretched across borders, and criminals exploited international financial systems to their advantage. Banks in multiple countries were used to transfer funds, while fake companies in different jurisdictions provided the perfect cover for illegal transactions.

Setareh Heshmat’s role wasn’t isolated—she was just one piece in a vast network of criminals who used loopholes, weak regulatory systems, and complex financial transactions to carry out their illegal operations undetected.

Her involvement in this network raised more than just legal concerns—it posed a significant threat to international security, as the money flowing through these channels wasn’t just for financial gain. It was also fueling terrorism, illegal arms trade, and other nefarious activities.

Explore More Articles

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Mohsen Fallahian: The inner working of his financial frauds in the UK

MohammadTabrizian’s Tangle: Unveiling the UK’s Hidden Web of Money Laundering and Terrorism

Mohammad Tabrizian, Known as "Taby": His Life and Endeavors

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