Iranian official arrested on $2.5B charge
Tehran, Iran, Oct. 21
By Mehdi Sepahvand – Trend:
The CEO of Iran’s Teachers Reserve Fund Shahabeddin Ghandali has been arrested on charge of $2.5 billion embezzlement.
Ghandali’s case included four assistants all of which have also been arrested, Judiciary spokesman Qolamhossein Mohseni Ejei said, IRIB news agency reported October 20.
Last month, MP Hossein Maqsoudi said Ghandali’s wife and stepson had been arrested for assisting him in his crime.
The fund has over 800,000 members and is run under the Ministry of Education. It is funded by the employees of the ministry and pays annual interests to members.