Iranian billionaire gets death sentence for oil theft

Iranian billionaire gets death sentence for oil theft

Sunday, March 6, 2016 5:59 pm

Babak Zanjani, Iranian billionaire: death sentence

Babak Zanjani, Iranian billionaire: death sentence

Iranian multi-billionaire Babak Zanjani and two colleagues have been sentenced to death for fraud.

Iranian Attorney-General, Gholam-Hossein Mohseni-Eje’I, said on Sunday in Tehran that Zanjani was accused of secretly selling Iranian oil as part of a criminal gang during the presidency of Mahmoud Ahmadinejad (2005-2013) and embezzling billions in profits. Zanjani was said to have pocketed close to $2.8 billion.

Mohseni-Eje’I said President Hassan Rowhani had stepped up investigations against corrupt gangs, including the arrest and trial of 41-year-old Zanjani.

Mohseni-Eje’I said during the court proceedings, members of Ahmadinejad’s former cabinet were mentioned several times as potentially being involved in the scandal.

“Zanjani was also blacklisted in the U.S. after he breached international sanctions against Iran by selling oil.

The economic sanctions imposed on Iran over the last decade for its nuclear programme were lifted in mid-January.

This was because Tehran scaled down its nuclear programme and fulfilled its obligations under a July nuclear deal with six world powers.

Zanjani is 42 years old. He is the managing director of the UAE-based Sorinet Group, one of Iran’s largest business conglomerates. He also owns Qeshm Airlines and Rah Ahan Sorinet F.C. in Iran

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  • Iran Fail says:

    It is ironic that Iran is cracking down on this kind of corruption when the regime has siphoned off billions from illicit oil sales and arms deals to fund three proxy wars in Syria, Yemen and Iraq, along with supporting large Quds Force and Shiite militia fighters, as well as maintaining the same level of support for Hezbollah. Not to mention propping up Assad’s Syria regime. Couple that with the multi-billion investments in building up nuclear facilities and new ballistic missile technology and you get a good idea as to why the regime imposes harsh sentences (like death) when it comes to embezzlement of their money. The Iranian government is rank with hypocrisy and corruption and this is just a fig leaf trying to cover up a much more massive problem.

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