Iran sentences ‘Sultan of Coins’ to death (UPDATE)
Details added (first version posted on 14:24)
Tehran, Iran, Oct. 1
A judiciary official said Iranian court has sentenced a man dubbed as “Sultan of Coins” to death over hoarding two tons of gold coins and manipulating the local market.
Vahid Mazloumin, dubbed as “Sultan of Coins”, was arrested by Tehran police on July 4 after the 58-year-old man used accomplices to collect an estimated 250,000 coins in 10 months.
“The courts have sentenced Vahid Mazloumin, Baqeri Darmani and Mohammad Salem (two of his accomplices) to death,” Judiciary spokesman Gholamhossein Mohseni Ejei said, Tasnim news agency reported on October 1.
The rial currency has lost about 70 percent of its value since April under the threat of revived US sanctions, with heavy demand for US dollars among ordinary Iranians trying to protect their savings.
In May, the United States pulled out of a 2015 deal between world powers and Tehran under which international sanctions on Iran were lifted in return for curbs on its nuclear program.
Washington has reimposed a number of sanctions on Iran, and it is planning to impose heavier sanctions in November aimed at the Islamic Republic’s oil sector.
The cost of living has also soared, sparking sporadic demonstrations against profiteering and corruption, with many protesters chanting anti-government slogans.