TEHRAN, Iran (Associated Press) —A billionaire businessman at the heart of a $2.6 billion state bank scam, the largest fraud case since the country’s 1979 Islamic Revolution, was executed Saturday, state television reported.

Authorities put Mahafarid Amir Khosravi, also known as Amir Mansour Aria, to death at Evin prison, just north of the capital, Tehran, the station reported. The report said the execution came after Iran’s Supreme Court upheld his death sentence.

The fraud involved using forged documents to get credit at one of Iran’s top financial institutions, Bank Saderat, to purchase assets including state-owned companies like major steel producer Khuzestan Steel Co.

Khosravi’s business empire included more than 35 companies from mineral water production to a football club and meat imports from Brazil. According to Iranian media reports, the bank fraud began in 2007.

A total of 39 defendants were convicted in the case. Four received death sentences, two got life sentences and the rest received sentences of up to 25 years in prison.

The trials raised questions about corruption at senior levels in Iran’s tightly controlled economy during the administration of former President Mahmoud Ahmadinejad.

Mahmoud Reza Khavari, a former head of Bank Melli, another major Iranian bank, escaped to Canada in 2011 after he resigned over the case. He faces charges over the case in Iran and remains on the Islamic Republic’s wanted list. Khavari previously admitted that his bank partially was involved in the fraud, but has maintained his innocence.

Leave your comments

Post comment as a guest

0 / 300 Character restriction
Your text should be in between 10-300 characters
Your comments are subjected to administrator's moderation.
terms and condition.
  • No comments found

Iran news in brief

Iran: Police raids a party in Isfahan

 

IRAN: Building collapses after heavy rain - July 2015

GRIEF-STRICKEN RELATIVES OF 8 EXECUTED PRISONERS MOURNING THEIR LOVED ONES

 

 

 

Latest News

The Hill - Congress, Iran and 'side deals': What you need to know

August 03, 2015

IRANIAN YOUTHS CONFERENCE ON HUMAN RIGHTS

August 02, 2015

40 percent of young women unemployed in 20 of Iran's 31 provinces

August 02, 2015
Donate
donation
Amount :