MS exec guilty of exporting to Iran

WASHINGTON – Erdal Kuyumcu, 44, CEO of Global Metallurgy LLC of Burnsville, Miss., has pleaded guilty to exporting specialty metals from the U.S. to Iran. The Justice Department says the CEO admitted to one count of conspiring to violate the International Emergency Economic Powers Act. The firm was accused by federal investigators of trying to send a metallic powder composed of cobalt and nickel to Iran without obtaining a license from the Treasury Department. Kuyumcu and a co-conspirator arranged for the metallic powder to be shipped to Turkey and on to Iran, the feds charged. He could face up to 20 years in prison and a $1 million fine at sentencing. (Source: WTVA 06/14/16) The powder can be used to coat gas turbine components, including turbine blades for use in aerospace, missile production and nuclear applications. Exporting the metals without the license is illegal.