Info:
Gainon Company is controlled by Najibi and used to obfuscate the MODAFL Supply Division’s international financial activity
Gainon Company moved hundreds of millions for dollars’ worth of revenue for MODAFL related to oil and petrochemical sales or foreign currency exchange operations.
Between June 2022 and 2023, MODAFL used Gainon Co., Limited to make transfers worth nearly $10 million through Ansar Exchange
Seyyed Mohammad Mosanna’i Najibi (Najibi) is an Iranian-Turkish money-changer who, since at least 2019, has managed several currency exchange businesses in Iran and Türkiye in coordination with the MODAFL Supply Division for the purpose of bypassing U.S. and European sanctions on Iran. Najibi carries out most of his business for the MODAFL Supply Division through the Iranian branch of his business, Seyyed Mohammad Mosanna’i Najibi & Co. Company, commonly known as Sadaf Exchange. Najibi works with the MODAFL Supply Division to establish cover companies and accounts for MODAFL, hold MODAFL’s money in accounts outside of Iran, transport hard currency across borders, retrieve revenue from sale of Iranian oil, and transfer funds to suppliers of MODAFL, Iran’s Armed Forces General Staff (AFGS), and the IRGC. Since at least 2020, Najibi has worked directly with top MODAFL officials to execute transfers of U.S. dollars to bank accounts in the People’s Republic of China, the Marshall Islands, Türkiye, and the UAE on their behalf, including transfers related to MODAFL cargo shipments. Najibi has also provided direct financial assistance to the IRGC-Qods Force (IRGC-QF) through the sale of gold in Türkiye for U.S.-designated IRGC-QF official Behnam Shahriyari.
Involved In:
Financial Services
Also Known As:
Gainon Co., Limited
Organization Established Date:
17 Sep 2021
Country:
China
Address:
Room 1201, 12/F Tai Sang Bank Building 130-132, Des Voeux Road, Central Hong Kong, Hong Kong, China
Business Registration Number:
73378347 (Hong Kong)
Company Number:
3086858 (Hong Kong)