Bank Melli Iran’s ex managing director to be judged publicly

By Trend

Former Bank Melli Iran’s managing director Mahmoud-Reza Khavari will be judged publicly, said the judge Naser Seradj, who is handling the $2.6 million fraud case, ISNA reported.

Khavari resigned from his post last year and fled to Canada, where he still resides.

Judge Seradj noted that the cases of 20 people connected to the ongoing investigation were submitted to the court.

In June of 2012, Interpol has placed Khavari on its Red Notice Wanted list, the Fars News agency quoted Seraj as saying.

Judiciary spokesman Gholam Hossein Mohseni-Ejei called on Interpol to arrest and hand over Khavari, who fled to Canada after the $2.6 billion financial fraud case was uncovered.

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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