DOJ probes JPMorgan, Citigroup transactions tied to Iran supreme leader's business network

June 20, 2026 - 01:40

The U.S. Department of Justice has launched a probe into transactions involving JPMorgan Chase and Citigroup that are allegedly connected to a business network linked to Iran's supreme leader, Ayatollah Ali Khamenei. According to sources familiar with the matter, investigators are examining whether the two major Wall Street banks processed payments or facilitated financial activities that violated U.S. sanctions.

The inquiry centers on a network of companies and individuals believed to be funneling money or resources to entities controlled by or benefiting Khamenei. U.S. sanctions have long targeted the supreme leader's inner circle, including firms that manage his personal investments and charitable holdings. The DOJ is looking into whether the banks failed to flag suspicious transactions or knowingly moved funds through shell companies and intermediaries.

Both JPMorgan and Citigroup have stated they are cooperating with the investigation. The banks have pointed to their compliance systems and noted that they screen transactions against government watchlists. However, the probe signals a broader push by federal authorities to crack down on financial channels that support Iranian leadership, especially amid ongoing tensions over Tehran's nuclear program and regional activities.

The case could lead to fines or other penalties if the banks are found to have violated anti-money laundering or sanctions laws. It also raises questions about how effectively global financial institutions monitor complex networks that use corporate structures to obscure the flow of money. The DOJ has not commented on the timeline for the investigation or whether charges are expected.