Turkish businessman denied bail in US court

NEW YORK (AA) – A U.S. court on Thursday denied bail for a Turkish businessman who faces charges of violating American sanctions against Iran.

Reza Zarrab, 33, poses a flight risk and bail conditions would not secure his appearance at trial, according to District Judge Richard Berman.

Zarrab had offered a $50 million bond in May for his release and self-financed accommodation in a Manhattan apartment supervised 24 hours by a security team.

The Iranian-born Zarrab was arrested March 21 in the U.S. on fraud and Iran sanctions-related charges.

He previously faced an investigation in 2013 on charges for alleged illegal gold sales to Iran via Turkey, which resulted in his detention.

That case was dismissed in 2014.