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Reza Zarrab. Photo: Ozan Kose/AFP/Getty Images

A Turkish bank known as Halkbank has been charged in a 6-count indictment for "fraud, money laundering, and sanctions offenses related to the bank’s participation in a multibillion-dollar scheme to evade U.S. sanctions on Iran," federal prosecutors in New York announced on Tuesday.

Why it matters: Bloomberg reported last week that in 2017, President Trump pressed former Secretary of State Rex Tillerson to help convince the Justice Department to drop a sanctions evasion case against an Iranian-Turkish gold trader named Reza Zarrab — a client of Rudy Giuliani's whose case was a high priority for Turkish President Recep Tayyip Erdoğan. Zarrab later pleaded guilty and testified against the CEO of Halkbank, also alleging that "Erdogan knew of and supported the laundering effort on behalf of Iran."

"Halkbank, a Turkish state-owned bank, allegedly conspired to undermine the United States Iran sanctions regime by illegally giving Iran access to billions of dollars’ worth of funds, all while deceiving U.S. regulators about the scheme. This is one of the most serious Iran sanctions violations we have seen, and no business should profit from evading our laws or risking our national security."
— Assistant Attorney General for National Security John C. Demers

Go deeper: WaPo breaks down Giuliani and Trump's connections to Zarrab

Go deeper

Pompeo, wife misused State Dept. resources, federal watchdog finds

Former Secretary of State Mike Pompeo. Photo: Joe Raedle/Getty Images

The State Department's independent watchdog found that former Secretary of State Mike Pompeo violated federal ethics rules when he and his wife asked department employees to perform personal tasks on more than 100 occasions, including picking up their dog and making private dinner reservations.

Why it matters: The report comes as Pompeo pours money into a new political group amid speculation about a possible 2024 presidential run.

Dead malls get new life

Illustration: Aïda Amer/Axios

Malls are becoming ghosts of retail past. But the left-behind real estate is being reimagined for a post-pandemic world.

Why it matters: As many as 17% of malls in the U.S. "may no longer be viable as shopping centers and need to be redeveloped into other uses," per Barclays.