BREAKING NEWS

Trial starts in Iran's biggest banking scandal

TEHRAN - Thirty-two people suspected of involvement in a multi-billion dollar banking fraud with alleged links to the government of Iranian president, Mahmoud Ahmadinejad, have gone on trial in Tehran, the Iranian state news agency reported.
The record embezzlement case revolves around the alleged use of forged documents by Iranian businessman Amir Mansour Khosravi to secure loans to buy state-owned companies under the government's privatization scheme.The businessman is accused of securing around 2.6 billion dollars from a number of Iranian banks.
President Ahmadinejad has rejected accusations from his hardline rivals that Khosravi had links to the head of his presidential office, Esfandiar Rahim Mashaie.
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