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Systematic corruption spreading in Iran

Business Materials 22 June 2014 15:05 (UTC +04:00)

Baku, Azerbaijan, June 22

By Fatih Karimov - Trend: Iranian First Vice president Es'haq Jahangiri said systematic corruption is spreading in the country.

Dealing with corruption is the strategic decision of the administration, he added.

The executive and the judiciary branches of the government are closely cooperating to decide on the $3 billion embezzlement case of the Iranian multi-billionaire, Babak Zanjani's, the vice president said.

Zanjani's fraud case is the biggest financial scam in Iran's judiciary since the 1979 revolution, a senior judiciary official said.

Tehran prosecutor Abbas Jafari Dolatabdi said that the case's volume is three times more than the famous $3 billion embezzlement case in 2011, Iranian Fars news agency reported on May 7.

The $3 billion embezzlement in 2011 was a fraud involving the use of forged documents to obtain credit from at least seven Iranian state and private banks to purchase state-owned companies. This bank fraud was being described as the biggest financial scam in the country's history.

Zanjani, who was arrested in December 2013, following the call from Iran's President Hassan Rouhani to the Iranian authorities to speed up corruption investigations, is accused of abusing international sanctions against Iran for financial benefit.

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