SetarehHeshmat: The Glamorous Face behind a Web of Financial Frauds in the UK

 

SetarehHeshmat’s name previously rang through social spaces to represent elegance and ambition in her public persona. As a University Canada West MBA student enrolled in Vancouver she embodied success yet the law uncovered that she operated within an advanced global financial criminal conspiracy which used money laundering tactics to smuggle oil and divert illegal funds.

Aside from Setareh, there exists a bigger expansive criminal network which extends through UK, Canada, the Middle East and other locations worldwide. The story demonstrates how financial institutions worldwide become vulnerable to abuse through manipulation for supporting criminal enterprises including trafficking rings and armed conflict programs.

The Global Money-Laundering Machine: How It Works

SetarehHeshmat, together with Abbas Sharif Askari and Mohsen Fallahian, operates an efficient network which exploits worldwide financial mechanisms. The operation functions through this process:

1.       Shell Companies as Fronts:

Two business entities function as legitimate entities in the eyes of authorities before using their structure to channel illegal funds through London Surface Design Limited, Abza Group Limited, and London Heritage Stone Limited. These businesses achieve money laundering purposes by creating artificial financial documents.

2.       Oil Smuggling Operations:

The transportation of Iranian crude oil starts at Bandar Abbas which operates as an important port city. Panamanian ships conduct illegal shipping operations with crude oil from Iran that receives altered documentation in Iraq to indicate Iraqi oil origins.The illegal purpose of this operation includes selling Iranian oil to global markets without detection as these sales generate millions in hidden revenue channels.

3.       Diversion of Funds:

False business transactions enable the illicit earnings to pass through Abbas Sharif Askari’s personal accounts which are held by UK banking institutions Monzo and Lloyds Bank.

SetarehHeshmat’s Role: The Hidden Enabler

Far from being a passive player, Setareh played a pivotal role in laundering money across international borders. Reports suggest:

  • She facilitated fund transfers from illicit oil sales into legitimate-seeming accounts in Canada.
  • Setareh’s luxurious lifestyle, including her education and living expenses in Vancouver, was allegedly funded by Abbas’ laundered money.
  • She maintained connections that allowed illegal funds to flow seamlessly between Canada, the UK, and the Middle East.

Illegal Activities Tied to Global Conflicts

This financial empire wasn’t just about personal wealth—it had global consequences. Funds from this network are believed to have supported organizations and conflicts in volatile regions, including:

  • Hezbollah operations and Houthis in Yemen
  • Hamas fighters and their activities in the Gaza Strip
  • Financial support to armed groups allegedly fighting Israeli soldiers

This reveals a troubling connection between financial fraud and the escalation of global conflicts, with profits from seemingly innocuous businesses fueling wars across the Middle East.

Abbas Sharif Askari: The Mastermind behind the Fraud

While Setareh played an active role, the mastermind remains Abbas Sharif Askari—a man with multiple identities:

  • Dominican Passport Name: Abbas Sharif Askari
  • Iraqi Passport Name: Abbas Ali SherifAlAskari
  • Iranian Passport Name: Abbas SherifAlAskari

Through his company Abza Group Ltd., registered in the UK, Abbas posed as a legitimate businessman, while diverting millions through fraudulent investments in oil, gas, gold, and real estate. His strategy?

  • Lure investors with promises of high returns
  • Demand upfront payments, citing the need to “bribe officials” for deals
  • Disappear with the funds once money changed hands

The Web of Fraud: Family Ties and Criminal Connections

The criminal network wasn’t limited to Abbas and Setareh. Family members played crucial roles:

  • Abbas’ sister in Canada helped launder money using local financial institutions.
  • His UK-based sister married MeghdadTabrizian, an individual linked to the Iranian regime, who allegedly used businesses like London Heritage Stone Limited to launder money from oil sales.
  • The Canadian connection extends to Abbas’ sister’s husband, a professor of AI in Toronto, suspected of aiding Iran’s drone technology used in attacks against Israel.

Shell Companies: The Heart of International Money Laundering

Shell companies remain essential to these global networks. Why?

  • Lack of transparency: Many countries don’t require full disclosure of company ownership.
  • Ease of formation: It can take just hours to establish a shell corporation in tax havens like Panama or the British Virgin Islands.
  • Legitimate facade: These businesses can make illegal transactions appear as part of normal operations.

Examples of Shell Company Abuses:

  • In 2016, the Panama Papers leak exposed how world leaders used offshore accounts to hide wealth.
  • Shell companies linked to Hezbollah were exposed for laundering money through used car sales in West Africa.

The Sophisticated Oil Smuggling Operation

The operation between Abbas Sharif Askari, Mohsen Fallahian, and Ali Sharif AlAskari exploited loopholes in international trade regulations:

  1. Oil was loaded onto ships with false documents stating it originated from Iraq.
  2. Blending and ship-to-ship transfers at sea made tracing oil origins nearly impossible.
  3. Profits from these sales—amounting to millions—were used to fund weapons programs and terrorist organizations.

The Increasing Threat of Financial Crimes in the UK

The UK has seen a rise in sophisticated money laundering operations:

  • The National Crime Agency (NCA) estimates that money laundering costs the UK economy £100 billion annually.
  • Real estate is increasingly used for laundering, with over £4.4 billion worth of properties suspected to have been bought with dirty money.

Abbas’ acquisition of fraudulent UK residency through inside connections at the Home Office further highlights systemic vulnerabilities.

Illegal Residencies and Escaping Justice

The network’s reach extended to illegal residency acquisitions:

  • Abbas and his associates obtained fraudulent residencies through bribes and forged documents.
  • Mohsen Fallahian, despite his criminal record, secured illegal residencies in Turkey and Italy, evading law enforcement through fake documentation.

Hidden Faces of Financial Crime

SetarehHeshmat, once seen as a rising star in academic circles, now finds herself entangled in a scandal that reveals the dark underbelly of global finance. Alongside Abbas Sharif Askari and Mohsen Fallahian, she helped build a network that didn’t just launder money but fueled geopolitical conflicts and destabilized economies.

This case serves as a stark reminder of how financial crimes—when left unchecked—can have consequences far beyond bank accounts, influencing wars, supporting terrorist activities, and undermining international stability.SetarehHeshmat’s life where the pursuit of knowledge intertwines with high-stakes financial subterfuge, and every academic lesson conceals a hidden lesson from the world of global crime.

The time has come for global authorities to crack down on these networks, ensuring that those like SetarehHeshmat and her associates face justice for their crimes.

 

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