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Congressman Randy Hultgren

Representing the 14th District of ILLINOIS

House Acts to Expose Corrupt Iran Leadership and Terrorism Funding

Sep 21, 2016
Press Release

Washington, DC — U.S. Representative Randy Hultgren (IL-14) today voted with the House to pass H.R. 5461, the Iranian Leadership Asset Transparency Act, which sheds light on the financial assets of top leaders in Iran, the world’s largest state sponsor of terrorism. Much of the funding of terrorism is done through private entities of funneled money, controlled by corrupt senior political and military Iranian leaders.

“Iran’s sponsorship of terrorist attacks against the United States and our allies is well-known. Yet many of Iran’s citizens, and many who do business with Iran, are unaware of the corruption at the highest levels of the Iranian regime to fund terror,” said Rep. Hultgren. “Given this administration’s recent infusion of billions in cash to the Iranian government, further corruption is inevitable. The Iranian Leadership Asset Transparency Act would expose the assets of these leaders, ensuring the public knows where they got their money and where it goes. A public list will ensure we understand how corruption is harming ordinary Iranians and the United States.”

Problem:

  • Iran and its senior military leaders are known sponsors of a wide variety of terrorist acts and organizations. (State Department June 2015 Country Report)
  • Much of that terror activity is funded by the vast sums of money such individuals control through foundation-like personal entities (“bonyads”) into which money from corruption is funneled.
  • The individuals and their close associates are estimated to control at least a third of the economy of Iran.
  • At the same time such individuals are self-aggrandizing and funding terrorism with that money, the average annual earning of normal Iranians amounts to about $15,000.

Solution:

  • The Iranian Leadership Asset Transparency Act would require the Treasury Secretary to develop a list estimating the funds and assets held by senior Iranian political and military leaders—such as the Supreme Leader of Iran, Ali Khamenei, the President of Iran, Hassan Rouhani, and the Commander of the Islamic Revolutionary Guard Corps, Major General Mohammad Ali Jafari—along with a description of how they acquired the assets and how those assets are employed.
  • The report would be posted on the Treasury Department’s website in English but also translated into the three main languages used inside Iran. Publication of this information will thus inform not only U.S. industries that inadvertently are doing business with these Iranian entities but also expose the level of corruption to the Iranian public.
  • Developing and keeping current an estimate of the funds and assets held by the top political and military leaders of Iran will help financial institutions and private businesses (1) comply with money laundering and related laws and (2) more carefully choose with whom they decide to do business.

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