Wrongly Convicted Database Record


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Mahmoud Reza Banki



Unlicensed money transfer business


2-1-2 years

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Year Convicted:


Year Cleared:


U.S. State or Country of Crime:

New York - Federal Case

County or Region of Crime:

New York

City of Crime:

New York City


Judicially Exonerated Released

Summary of Case:

"Mahmoud Reza Banki was wrongly convicted on June 4, 2010 of operating an unlicensed money-transmitting business. The charges were based on Banki sending money home to his family in Iran beginning in 2006. Banki was denied bail after his arrest on January 7, 2010 and he remained in custody pending his trial. Banki's was convicted by a jury on June 4, 2010. He was sentenced to 2-1/2 years in prison on August 16, 2010. The judge ordered that Banki pay a $3.4 million judgment that was equal to the total amount that he had sent his family in Iran. Banki appealed. On October 24, 2011 the 2nd Circuit Court of Appeals overturned Banki's money transmitting convictions. On November 2, 2011 he was released after 22 months in custody. The charges were dismissed on July 24, 2012 and the order for the money judgment was rescinded."

Conviction Caused By:

Innocence Proved By:

"On October 24, 2011 the 2nd Circuit Court of Appeals overturned Banki's money transmitting convictions. The charges were dismissed on July 24, 2012."

Defendant Aided By:

Compensation Awarded:

Was Perpetrator Identified?

Age When Imprisoned:


Age When Released:




Information Source 1:

"U.S. v. Banki, 685 F. 3d 99 (2nd Cir. 2011)"

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Information Source 2:

"Ex-McKinsey Consultant Banki’s Conviction Reversed in Part, By Bob Van Voris and Patricia Hurtado (staff writers), Bloomberg Businessweek, October 24, 2011"

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