Iran tycoon accused of pocketing $2.8bn gets death sentence
ERBIL, Kurdistan Region – Babak Zanjani, a flamboyant Iranian billionaire who admitted to amassing massive wealth in commissions from Iranian oil sales, has been sentenced to death for corruption, Iran’s judiciary spokesman said Sunday.
Gholam-Hossein Mohseni-Ejei said that Zanjani was convicted on several charges, including “spreading corruption on earth,” a capital crime that carries a mandatory death sentence.
Iran’s official Press TV reported Mohseni-Ejei as saying that Zanjani was sentenced by the court of first instance. That means he – and two other defendants sentenced with him – have the right to appeal.
Zanjani was also charged with massive fraud at the Iranian oil ministry, the Social Security Organization and Bank Maskan, as well as money laundering and forgery.
The tycoon was reputed as one of Iran’s richest men. He had boasted in media interviews that he had made his money by channeling money on oil sales back to Iran during the 2005-2013 presidency of Mahmoud Ahmadinejad, when Iran faced severe international sanctions that were only lifted this year.
Zanjani was arrested in December 2013, after 12 Iranian lawmakers accused him of corruption and called for an inquiry into his financial activities.
He is accused of having fraudulently pocketed $2.8 billion in money from oil sales.
Throughout his long and public trial Zanjani had insisted he was working under the full authority and knowledge of Ahmadinejad, whose administration faces accusations of massive corruption. Zanjani’s arrest came three months after current President Hassan Rouhani took office, having pledged to crack down on corruption.
Gholam-Hossein Mohseni-Ejei said that Zanjani was convicted on several charges, including “spreading corruption on earth,” a capital crime that carries a mandatory death sentence.
Iran’s official Press TV reported Mohseni-Ejei as saying that Zanjani was sentenced by the court of first instance. That means he – and two other defendants sentenced with him – have the right to appeal.
Zanjani was also charged with massive fraud at the Iranian oil ministry, the Social Security Organization and Bank Maskan, as well as money laundering and forgery.
The tycoon was reputed as one of Iran’s richest men. He had boasted in media interviews that he had made his money by channeling money on oil sales back to Iran during the 2005-2013 presidency of Mahmoud Ahmadinejad, when Iran faced severe international sanctions that were only lifted this year.
Zanjani was arrested in December 2013, after 12 Iranian lawmakers accused him of corruption and called for an inquiry into his financial activities.
He is accused of having fraudulently pocketed $2.8 billion in money from oil sales.
Throughout his long and public trial Zanjani had insisted he was working under the full authority and knowledge of Ahmadinejad, whose administration faces accusations of massive corruption. Zanjani’s arrest came three months after current President Hassan Rouhani took office, having pledged to crack down on corruption.