Death penalty for oil billionaire confirmed

EghtesadOnline: Supreme Court of Iran has confirmed a death penalty for oil billionaire Babak Zanjani faced with charges of embezzement, money laundering, and fraud.

News ID: ۷۳۸۳۸۶

04 December 2016

A senior official at the Supreme Court of Iran Gholam-Reza Ansari has announced that the court has not approved of the death penalties for the two other defendants Hamid Fallah-Heravi and Mehdi Shamszadeh involved in the embezzlement case, according to IRNA.

Zanjani, 41, was arrested on Dec 30, 2013, on charges of corruption. He is one of Iran's wealthiest businessmen, with a fortune worth estimated 14 billion dollars.

Zanjani and two other defendants face charges of money laundering lodged in a 40,000-page indictment.

The two defendants are facing charges of complicity in money laundering, forgery and fraud.

Zanjani was jailed when charges were brought up against him for misappropriating two billion euros belonging to the Ministry of Petroleum.