10th trial session of Iran's $2.8 billion embezzlement case underway in Iran
Azerbaijan, Baku, May 10 / Trend S.Isayev, T. Jafarov/
Tenth trial session of the long-lasting $2.8 billion embezzlement case is underway in Iran, Fars reported.
The first court session of the trial of 32 defendants charged with involvement in the biggest embezzlement case in Iran's history was held on Feb.19.
A case involves the Amir Mansour Arya Group, accused of using its influence and government officials' cooperation to obtain forged letters of credit and huge bank loans that exceeded its own value.
Seven state-owned and private Iranian banks are said to be involved in the fraud case, in which documents were also forged in efforts to secure loans and purchase state-owned companies.
At the 10th trial session, seven people are facing charges of financial fraud. 17 people were brought up on charges from 1st to 9th trial sessions.