Iran sentences 4 to death over bank embezzlement: report

TEHRAN, Feb. 17 — Iran’s Supreme Court confirmed Sunday death sentences for four people involved in a big embezzlement case, official IRNA news agency reported.

In the summer of 2011, Iranian media reported that nearly 2.6 billion U.S. dollars was swindled out of several banks over a span of more than two years by Amir Mansour Aria Company, whose owner, taking advantage of the government connections, purchased swaths of state-owned assets, including those of Iran’s second largest steel maker Khuzestan Steel Company.

In October 2011, Iranian media reported that, along with some people, a number of Iranian banking officials were also arrested over the scandal, allegedly one of the biggest frauds in Iran’s history.

According to IRNA, a banking official of the country was sentenced to life imprisonment.

More details will be announced by the judiciary spokesman on Monday, said the report.

By Xinhua


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