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Lira crashes as Erdogan, Turkish gov’t implicated in Iran money-laundering scheme
Case of Reza Zarrab seen as flash point in US-Turkey relations
The Turkish lira plummeted Friday after reports surfaced that a trader accused of helping Iran evade sanctions invoked the name of Turkish President Recep Erdogan as part of a money-laundering scheme.
Bloomberg reports, citing court documents, that US prosecutors say the scheme was supported by Turkey’s…
The lira dropped to its weakest point since January, hovering around an all-time low for the currency.
- From Bloomberg:
”US prosecutors in New York have gathered taped conversations and other records that suggest the trader may have sought support from…