An unsealed search warrant shows a former senior Binance financial crime investigator told the IRS in May that company management ignored internal calls to examine accounts suspected of being used by people in Iran.

The case covers about 2,000 accounts with roughly $1.2B in fund flows.

The investigator was suspended along with several colleagues after probing two accounts suspected of sending funds to Iran in breach of US sanctions, and later left the company. He has since been subpoenaed to testify before a federal grand jury in Washington, D.C.

Binance denies violating Iran sanctions and says the investigators were fired for breaching its data privacy policies, that the account review was never closed and that it will cooperate with law enforcement. No charges have been filed in the investigation so far.