Ex-TVA official indicted for Iran investments

Ex-TVA official indicted for Iran investments

Posted:

KNOXVILLE (AP) - Prosecutors say an former Tennessee Valley Authority vice president has been indicted for sending more than half a million dollars to Iran for financial investment purposes, which is barred under U.S. economic sanctions against Iran.

Federal agents arrested 57-year-old Masoud Bajestani as he arrived at the airport in Atlanta on Sunday.

The U.S. Attorney's Office in Knoxville said on Tuesday that a federal grand jury in December indicted Bajestani for violating the International Emergency Economic Powers Act and making false statements to the TVA.

Bajestani was a vice president at the Watts Bar Unit II nuclear power plant during its construction phase.

The indictment alleges he took $1.5 million from his deferred compensation account and conspired with others to send $600,000 to Iran.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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