DOJ Probe of Iran Oil Tycoon Examines His Global Banking Network

The US Justice Department is conducting a probe into whether an Iranian oil tycoon breached sanctions while using a global network of banks, according to people familiar with the matter.

The investigation is focused on billions of dollars of money movements between firms overseen by Hossein Shamkhani, the son of a top adviser to Supreme Leader Ayatollah Ali Khamenei, said the people, who requested anonymity as the matter is private.

The existence of the probe doesn’t mean any charges will be filed.

The DOJ has been supported, in part, by insiders who’ve worked within the tycoon’s business empire, ...