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Iranian parliament demands explanation on $2.8 bln bank fraud

Society Materials 31 October 2011 11:02
The Iranian parliament has summoned Economy Minister Shamseddin Hosseini and Central Bank Governor Mahmoud Bahmani to the parliament to report on the recent $2.6 billion financial corruption
Iranian parliament demands explanation on $2.8 bln bank fraud

Azerbaijan, Baku, Oct.31 / Trend F.Milad/

The Iranian parliament has summoned Economy Minister Shamseddin Hosseini and Central Bank Governor Mahmoud Bahmani to the parliament to report on the recent $2.6 billion financial corruption, the Fars news agency reported.

The fraud case started in 2007 by Amir Mansour Arya Investment Company, headed by Khosravi, and progressed in 2010 after some Iranian major banks, including Bank Saderat and Bank Melli, issued loans for the company.

Iranian officials say that the case involved the use of fraudulent documents to obtain credit for this investment company, one of the country's top financial institutions. The company used them to purchase assets such as state-owned companies.

Iran has arrested 35 suspects regarding the embezzlement case.

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