The Justice Department released a statement today that Erdal Kuyumcu, CEO of New York-based Global Metallurgy LLC, was arrested for allegedly exporting aerospace-grade cobalt-nickel metallic powder from the United States to Iran through an intermediary in Turkey.
Metallurgical company CEO arrested for exports to Iran: U.S. Justice Department https://t.co/Pbq22WKi5L
— Reuters World (@ReutersWorld) March 1, 2016
The 44-year-old Kuyumcu, a U.S. citizen who lives in Woodside, N.Y., is alleged to have twice exported a specialized metallic powder used in aerospace, missile production and nuclear applications to Iran, working with a co-conspirator to first ship the materials to Turkey and then on to “the neighbor,” their code word for Iran.
If convicted, Kuyumcu faces up to 20 years in prison and a $1 million fine.