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Record honorarium for defending $3 billion embezzlement case in Iran

Iran Materials 2 July 2013 17:53 (UTC +04:00)

Azerbaijan, Baku, July 2/ Trend N. Umid/

A lawyer received $ 8.16 million honorarium (according to official USD rate in Iran - 12,260 rials for each dollar) for defending $3 billion-embezzlement case in court, Prosecutor General Gholam-Hossein Mohseni Ejei said during a press conference, Mardomsalari newspaper reported on July 2.

A 2.8 billion Embezzlement 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 is being described as the biggest financial scam in the country's history.

On February 17, 2012, Mohseni-Ejei said that four people who were involved in 3 billion dollars bank fraud case were sentenced to death, Mehr news agency reported on Sunday.

According to him, other main culprits in the fraud case have been sentenced to life imprisonment, as well as imprisonment for 10 years and pecuniary punishment.

The embezzlement case started in 2007 by Amir Mansour Arya Investment Company, 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.

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