The billionaire businessman who was the mastermind behind Iran's biggest
fraud case was hanged Saturday in Tehran. Authorities say Mahafarid Amir
Khosravi was put to death at Tehran's notorious Evin Prison.
FILE: Billionaire Mahafarid Amir Khosravi shown during a trial session in
Khosravi was found guilty of having used forged documents to obtain credit at
Iran's top financial institutions in the $2.6 billion scam. He bought numerous
assets, including a steel company.
At least 20 other people were arrested in connection with the scheme. Most are
facing lengthy prison sentences, but at least three have received death
One of the suspects in the case fled to Canada. Mahmoud Reza Khavari, a former
chief of a major Iranian bank, is on the Islamic Republic's most wanted list.
The trials raised questions about corruption at senior levels in Iran's tightly
controlled economy during the administration of its former president, Mahmoud
Ahmadinejad, who dismissed the allegations as a smear campaign conducted by his
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