Despite posing potential conflicts of interest, Rudolph W. Giuliani and another prominent lawyer were allowed on Thursday to continue to represent a Turkish-Iranian gold trader facing federal charges in Manhattan.

The businessman, Reza Zarrab, 33, faces trial on Oct. 30 on charges of conspiring to commit money laundering, bank fraud and violating the United States sanctions on Iran. He has pleaded not guilty.

Mr. Zarrab, whom prosecutors have depicted as a man of considerable wealth and influence in Turkey, retained Mr. Giuliani, the former New York City mayor, and Michael B. Mukasey, a former attorney general in President George W. Bush’s administration, to explore a possible diplomatic resolution to his case, outside of normal plea bargaining channels. In a court filing in April, Mr. Mukasey described the effort as seeking “a state-to-state resolution of this case.”

Image Mr. Zarrab Credit... Ozan Kose/Agence France-Presse — Getty Images

The two lawyers have met with the Turkish president, Recep Tayyip Erdogan, and also discussed the matter with Trump administration officials. “Senior officials in both the U.S. government and the Turkish government remain receptive to pursuing the possibility of an agreement,” Mr. Mukasey said in the court filing.