An Iranian billionaire has been sentenced to death in the Islamic republic after being found guilty of fraud and economic crimes, according to the BBC citing an Iranian judiciary spokesperson. Babak Zanjani is a controversial figure both within Iran and internationally, accused of a number of business-related crimes.
Here are 4 key points to know.
1. Babak Zanjani, said to be worth around $13.5 billion, was the head of the UAE-based Sorinet Group, a large-scale business conglomerate. The group’s companies reportedly included cosmetics, banking, hospitality and real estate development businesses.
2. Zanjani was blacklisted by the EU and the US for allegedly assisting Iran during a time of sanctions. He was accused of facilitating Iranian oil deals and “transferring oil-related money.” According to the BBC, he acknowledged using companies in the UAE, Turkey and Malaysia to sell oil on behalf of the Iranian government.
3. He was arrested in Iran in 2013 for his alleged role in a corruption scandal. He was accused of withholding billions of dollars in oil revenue which he has funneled through his companies.
4. Alongside two others, he has been sentenced to death and ordered to pay back the allegedly embezzled money. He was reportedly arrested a day after president Rouhani ordered his government to fight financial corruption. He denies the charges, saying that international sanctions had stopped money being forwarded to Iran’s central bank.
