Tehran, Iran, Nov.14
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"Sultan of Gold Coins" Vahid Mazloomi has been hanged in Iran, alongside with Mohammad Ismaeil Qasemi,both convicted of illegal dealership of foreign exchange and gold coins, were arrested back in January 2018, IRNA reported.
The convicts had been using other people’s accounts for several years to run the illegitimate transactions; in case of Mazloomin worth 140000 billion rials, and for Qasemi 48340 billion rials.
Mazloomin and Qasemi made fake exchanges of pricing to implement their wicked schemes. Large-scale purchase of forex and gold coin, as well as moving money abroad illegally are among the crimes they are charged with.
The Iranian rial plunged to a record low against the US dollar on the unofficial market after President Donald Trump in May withdrew from a deal on Tehran’s nuclear program.
The US dollar is being offered for as much as 130000 rials in Iran’s free market, meanwhile the official rate is 42,800 rials.
Gold coin also was sold at about 30 million rials on July 3.
The fall of the national currency provoked a public outcry over the quick rise of prices of imported consumer goods.
Earlier in 2012, when the international sanctions against Iran intensified and the national currency experienced sharp collapse police closed the capital city's open currency market and arrested up to 100 people, including gold coin dealers.