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Iran seizes assets of tycoon under investigation

Source: Radio Zamaneh

The Iranian judiciary says the assets of detained Iranian tycoon Babak Zanjani have been confiscated. The Mehr News Agency reports that all the assets under Babak Zanjani's name have been identified and confiscated by order of the prosecutor.

Babak Zanjani
's cartoon by Mohammad Tahani, Arman daily

Zanjani's debt to the Ministry of Oil, which is the main issue that prompted his arrest, is under investigation. The judiciary says Zanjani is being questioned by interrogators.

Zanjani, a former Basij and IRGC member, was arrested in late December. According to his own statements, he had a daily income of 800 billion rials.

Zanjani was blacklisted by the European Union in December 2012 for alleged efforts to circumvent international sanctions against Iran's petroleum trade.

In 2013, the U.S. also accused Zanjani of money laundering and trying to bypass sanctions against Iran.

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