Zedxion Exchange Ltd. was incorporated in May 2021. In October that year, an individual named “Babak Morteza” was listed as both director and person with significant control. Companies House records show that the identifying details associated with that name match those of Babak Zanjani, an Iranian businessman long accused of sanctions evasion. Companies House filings indicate that “Babak Morteza” ceased to be listed as a person with significant control in August 2022. Newman was then appointed as a director the same month.
Iran and crypto sanctions evasionCompanies House is beginning to exercise expanded powers under the Economic Crime and Corporate Transparency Act 2023 to query and remove suspect information from the register, including mandatory identity verification for directors and beneficial owners introduced in late 2025. It is part of a broader effort to prevent misuse of the UK corporate register.
Since March 2024, the registrar has been able to query and remove suspicious information and require companies to provide a registered email address. From November 2025, all directors and people with significant control have had to verify their identities, and companies must confirm they are formed for lawful purposes.
