Azerbaijan, Baku, Nov. 25 / Trend S. Isayev, T. Jaffarov/
Two Iranians previously charged with $2.8 billion bank fraud were sentenced to death, while two more were sentenced to life imprisonment, Fars News Agency quotes cultural deputy head of IRGC Hamid Reza Moghaddamfar as saying.
Previously, Iran arrested 35 suspects over $2.8 billion bank corruption case and the investigation is underway, IRNA reported quoting general prosecutor Mohseni Ejei as saying.
Ejei noted the bank corruption case started in 2007 by Amir Mansour Arya Investment Company, headed by Amir Mansour Khosravi, and progressed in 2010 after some banks, including Sadarat and Melli Bank, issued loans for the company.
Ejei confirmed that a $2.8 billion bank fraud involving the company, whose assets worth $4.2 billion were seized and bank accounts were blocked.
Iranian officials say that the case involved the use of fraudulent documents to obtain credit at Amir Mansour Arya investment company, one of the country's top financial institutions, used at the time to purchase assets such as state-owned companies. The case is described as Iran's biggest case of embezzlement ever.
Chief Mahmoud-Reza Khavari of Bank Melli, Head Mohammad Jahromi of Bank Saderat, and Head of the private Bank Saman Valiullah Zarabiyeh resigned after embezzlement case.