BREAKING NEWS

Iran sentences four to death over banking scandal

By REUTERS

JULY 30, 2012 14:58

DUBAI - An Iranian court has sentenced four people to death for their roles in a billion-dollar banking fraud scandal that forced bank executives out of their jobs and tainted the government of Iranian President Mahmoud Ahmadinejad, state media reported on Monday.

The embezzlement case, discovered in September 2011, revolved around forged documents allegedly used by the directors of an Iranian investment company to secure loans totaling $2.6 billion to buy state-owned enterprises.

Thirty-nine people were tried for their involvement in the fraud.

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