GBD FIZ Ltd.

Investigation

Georgian Business Development, aka GBD FIZ, received $14,255,608.70 from LCM Alliance in 2013 for equipment.

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The Azerbaijani Laundromat
See the project
September 4th, 2017
Banking Real Estate Sanctions
Georgia United Arab Emirates United States

Georgian Business Development, aka GBD FIZ, received $14,255,608.70 from LCM Alliance in 2013 for equipment.

GBD is a front company on the US sanctions list owned by Pourya Nayebi, Houshang Hosseinpour and Houshang Farsoudeh, with registered addresses in Georgia and Dubai.

It was one of eight front companies used to obscure transactions and create false invoices on behalf of Iranian banks that flouted US sanctions against Iran.