Iran General News32 stand trial over Iran's biggest bank fraud

32 stand trial over Iran’s biggest bank fraud

-

AP: A Tehran court began hearing the trial of 32 defendants Saturday in a $2.6 billion bank fraud described as the biggest financial scam in the country’s history, state TV reported. By ALI AKBAR DAREINI, Associated Press

TEHRAN, Iran (AP) — A Tehran court began hearing the trial of 32 defendants Saturday in a $2.6 billion bank fraud described as the biggest financial scam in the country’s history, state TV reported.

The city’s chief prosecutor Abbas Jafari Dowlatabadi read the text of the indictment against the 32 accused, who wore prison uniform as they attended the Saturday session of the Revolutionary Court charged with hearing cases involving security and organized crimes.

The charges involve the use of forged documents to get credit at one of Iran’s top financial institutions to purchase assets including major state-owned companies.

Iran’s judiciary has banned media from identifying the defendants by their full names. The primary defendant is referred to in reports by his nickname, “Amir Mansour Aria”, and he is described in the Iranian media as the head of a sprawling business empire.

“Owners of the Aria Investment Development Company … took the first step towards gaining wealth through using incorrect connections with executive and political elements and paying bribes … Dozens of instances of bribe payments to staff and managers of banks have taken place under various titles,” state TV’s website quoted the indictment as saying.

The indictment said company managers undermined the country’s economic security through engaging in organized fraud and paying large amounts of bribes to illegally accumulate several billion dollars.

“Not only did they prevent the progress and the increase of production and national wealth, they inflicted damage to people’s trust and healthy economic activity,” state TV’s website quoted the indictment as saying.

State TV said the top defendant has been charged with being “corrupt on earth,” an Iranian legal term meaning that the defendant is an enemy of God, and which carries the death penalty.

Former head of Iran’s Bank Melli Mahmoud Reza Khavari, one of the suspects in the case, has left Iran and now reportedly lives in Canada.

State TV said Judge Nasser Seraj must go through 12,000 pages of documents before he can issue a verdict in the high-profile case.

Aria’s business empire reportedly includes more than 35 companies who activities range from mineral water production to a football club and meat imports from Brazil.

The first details of the case became public in September.

Latest news

Iran and Hezbollah Face Blame for Dual Financial Crises

The United States Treasury Department announced on Friday, January 21, that it would be enforcing sanctions on three Lebanese...

Iran – Conflicting State Policies Deepen Social Crises

The Iranian regime has decided to spend about $800 million to encourage more childbirths in 2022 in an attempt...

NCRI Hosts Conference in France To Address the Need To Hold the Iranian Regime Accountable for Its Crimes

On January 17, the National Council of Resistance of Iran (NCRI) hosted a conference in Auvers-sur-Oise, north of Paris,...

Iran’s Regime Tries To Whitewash Its Crimes

Iran’s State Prisons and Security and Corrective Measures Organization, which is under the supervision of the Judiciary, has distributed...

Iran: Raisi’s Six-Month Economic Record Contrasts Sharply With His 7,000-Page Program

In the summer of 2021, the Iran regime’s supreme leader Ali Khamenei installed the infamous Judiciary Chief Ebrahim Raisi...

Iran’s Export in the Casino of the State Mafia

The Chairman of the Tehran Chamber of Commerce, Mohammad Khansari, has stated that the total volume of exports of...

Must read

A dubious deal

Washington Times - Editorial: It looks increasingly doubtful that...

You might also likeRELATED
Recommended to you