Convictions for Violating Iranian Oil Sanctions Upheld on Appeal

Two men found guilty of a scheme to sell sanctioned Iranian oil lost appeals to undo their convictions Wednesday, after the Third Circuit called their arguments unpersuasive.

Zhenyu “Bill” Wang, a Chinese national who was living in Dallas, and Daniel Ray Lane, who owned a company that sold mineral rights, were convicted of money laundering and conspiring to engage in and engaging in transactions involving sanctioned Iranian oil in violation of the International Emergency Economic Powers Act.

Wang argued that the IEEPA amounts an unconstitutional delegation of legislative authority, but the US Court of Appeals for the Third Circuit has ...