Ex-TVA official indicted for Iran investments

Associated Press • Feb 5, 2013 at 12:16 PM

KNOXVILLE, Tenn. (AP) — Prosecutors say an former Tennessee Valley Authority vice president has been indicted for sending more than half a million dollars to Iran for financial investment purposes, which is barred under U.S. economic sanctions against Iran.

Federal agents arrested 57-year-old Masoud Bajestani (BAH-jes-tah-nee) as he arrived at the airport in Atlanta on Sunday. The U.S. Attorney's Office in Knoxville said on Tuesday that a federal grand jury in December indicted Bajestani for violating the International Emergency Economic Powers Act and making false statements to the TVA.

Bajestani was a vice president at the Watts Bar Unit II nuclear power plant during its construction phase. The indictment alleges he took $1.5 million from his deferred compensation account and conspired with others to send $600,000 to Iran.

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