EX-Iranian chief banker sentenced to 10 years over mismanagement

A former governor of the Central Bank of Iran (CBI) and one of his deputies along with other government officials have been given long prison sentences over a case related to turbulences in the country’s foreign currency market beginning 2016.

Valiollah Seif had been sentenced to 10 years in prison over his role in mismanagement of Iran’s foreign currency market, said judiciary spokesman Zabiollah Khodaeian in a weekly press briefing on Saturday.

Seif was CBI governor for five years until 2018. A judge in the case ruled that he and his deputy Ahmad Araghchi had been responsible for disrupting calm and order of Iran’s foreign currency market and the country’s economic atmosphere.

Under Seif’s watch, Araghchi had authorized the use of $160 million and 20 million euros of CBI foreign currency funds by notorious businessman Salar Aghakhani for a trading in the unofficial currency market in 2016 that had been meant to control fluctuating prices.

Araghchi was handed an eight-year prison term while Aghakhani, who has fled Iran, was sentenced to 13 years in prison, according to reports by local media outlets.

 

Source: Press TV