You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

World

  • Syrian refugee women face sexual exploitation
    The Syrian refugee woman huddled in the latest room she calls home, a peeling, run-down place outside a north Lebanese village. The mother of six doesn’t know how she’ll pay the rent.
  • UN: Iraq deaths drop to 1,700 in July
    The United Nations says 1,737 people, mostly civilians, were killed in Iraq in July, marking a dramatic decline from the previous month, when some 2,400 people were killed as Sunni militants swept across large parts of the country,
  • Ukrainian troops suffer heavy loss in ambush
    Ukrainian authorities said Friday that at least 10 government troops were killed in an ambush by pro-Russian separatists in an area near the wreckage of Malaysia Airlines Flight 17, but international inspectors nonetheless set off for a
Advertisement

Report: Iran billionaire executed over $2.6 billion fraud

TEHRAN, Iran – A billionaire businessman at the heart of a $2.6 billion state bank scam, the largest fraud case since the country’s 1979 Islamic Revolution, was executed Saturday, state television reported.

Authorities put Mahafarid Amir Khosravi, also known as Amir Mansour Aria, to death at Evin prison, just north of the capital, Tehran, the station reported. The report said the execution came after Iran’s Supreme Court upheld his death sentence.

The fraud involved using forged documents to get credit at one of Iran’s top financial institutions, Bank Saderat, to purchase assets including state-owned companies like major steel producer Khuzestan Steel Co.

Khosravi’s business empire included more than 35 companies from mineral water production to a football club and meat imports from Brazil. According to Iranian media reports, the bank fraud began in 2007.

A total of 39 defendants were convicted in the case. Four received death sentences, two got life sentences and the rest received sentences of up to 25 years in prison.

The trials raised questions about corruption at senior levels in Iran’s tightly controlled economy during the administration of former President Mahmoud Ahmadinejad.

Mahmoud Reza Khavari, a former head of Bank Melli, another major Iranian bank, escaped to Canada in 2011 after he resigned over the case. He faces charges over the case in Iran and remains on the Islamic Republic’s wanted list. Khavari previously admitted that his bank partially was involved in the fraud, but has maintained his innocence.

Advertisement