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There is no good in much of their secret conferences save (in) whosoever enjoineth charity and fairness and peace-making among the people and whoso doeth that, seeking the good pleasure of God, We shall bestow on him a vast reward. (Al-Nisa, 4:114).

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Saturday, May 26, 2012

$2.6bn embezzlement case-Iran.

Published on May 26, 2012 by PressTVGlobalNews : The trial of trials, The lord of bribery in the docks The Aria Group case, blatant attack on financial security, The lord of bribery pleads not guilty,12,000 page report for 3 trillion tomans embezzlement case. 12,000 pages in 33 volumes compiled in just a few months a mountain of evidence for a scandal of gargantuan proportions. Until just recently a monstrous embezzlement operation was in full swing. Only 9 months ago was the lid blown off the scandal and its prime suspects dragged in for questioning. One mistake brought the stack of cards tumbling down about their ears. The case has left a gapping gash in Iran's economy, which will take a lot of stitching to close. The 33 volume indictment has finally been placed on the judge's desk -- what's certain is that the suspects behind the hefty report are no average Joes -- or maybe one of them is.

In the year 2005 Maha'farid amir Khosravi was the owner of a cattle farm. Seven years later his business had expanded considerably. He owned 38 major companies, the deeds to 38 factories, was in charge of 18 large scale projects, and when he was finally arrested in 2011, he was in the process of starting up a private bank called Aria. Mr. Amir Khosravi took seven reputable banks and some of the country's most recognized figures down with him. Mohammad Jahromi, the CEO of Saderat Bank, was forced to resign, Mahmoud Bahmani's the CEO of Iran's central Bank was accused of gross negligence, Mahmoud Kha'vari the CEO of Melli Bank fled to Canada becoming the suspect to generate the most media coverage, and Shamsedin Husseini, the Finance Minister, went to the brink of indictment.