US to prosecute bank over Iran links

Robert Morgenthau, Manhattan’s elderly district attorney, said on Tuesday he planned to take action within a month against a big financial institution over illicit links with Iran.

Mr Morgenthau also signalled that he was investigating Venezuelan banks for possible illegal ties with Tehran.

Speaking to the Financial Times, Mr Morgenthau, 90, said he was following up a prosecution of Lloyds TSB over the illegal transfer of $300m in Iranian cash with another case against a mainstream bank involving a larger sum of money.