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Iran hangs first of four men over Ahmadinejad-era bank scandal

By REUTERS

MAY 25, 2014 19:31

Iran has hanged the first of four men sentenced to death for a massive financial scam that tainted the government of former President Mahmoud Ahmadinejad, local media reported on Sunday.

Mehafarid Amir-Khosravi, described as a self-made tycoon, was hanged in Tehran's Evin Prison on Saturday after the supreme court upheld the four death sentences, the reports said. There was no word on the fate of the other three.

Exposed in 2011, the 30 trillion-rial ($2.7 billion) scandal involved embezzlement, bribery, forgery and money-laundering in 14 state-owned and private banks between 2007 and 2010 by people close to the political elite.

Coming to light as normal Iranian were being hit by the impact of Western economic sanctions, the affair severely damaged the reputation of Ahmadinejad and his entourage towards the end of his eight-year presidency.

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