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Investigations

Date

Former DOT Employee Sentenced for Conspiracy To Commit Bank and Wire Fraud and Violation of the IEEPA

On July 11, 2023, the U.S. District Court for the District of Maryland sentenced Richard Allen Boyd to 24 months of incarceration, 24 months of supervised release, and a $300 special assessment. On March 29, 2023, Boyd pleaded guilty to conspiracy to commit bank and wire fraud and violation of the International Emergency Economic Powers Act (IEEPA).
 
The investigation revealed that between 2015 and 2018, Boyd, a DOT employee at the time, imported, marketed, and sold Iranian currency to customers in violation of the IEEPA. Boyd also conspired to conduct international wire transfers of funds to purchase foreign currencies while misrepresenting the true purpose of the wire transfers.
 
DOT-OIG conducted this investigation with the U.S. Department of Homeland Security-Homeland Security Investigations.