Iran’s judiciary to investigate oil incomes violation case

Iran Materials 14 December 2011 17:57 (UTC +04:00)

Azerbaijan, Baku, Dec. 14 / Trend F.Milad/

The Supreme Audit Court of Iran has sent special reports to the country's Judiciary System on cases of the government's avoiding to transfer $11.2 billion in oil income to the Foreign Reserves Fund and the privatization of the Hormozgan Steel Company.

The Supreme Audit Court announced earlier it has revealed misappropriation of about $11.7 billion in oil income since 2009.

The second violation involved the regulations regarding the sale of the Hormozgan Steel plant to the private sector. The cash funds to be obtained from the sale of the plant were to be allocated at the industrial project. However, they were used for cash payment to the population. A