Iranian billionaire 'secretly executed' over biggest bank fraud in country's history
Mahafarid Amir-Khosravi began his fraudulent activities in 2007 and was able to buy a meat exporting company and football team with the money he stole
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.A billionaire businessman that was responsible for the biggest bank fraud Iran has ever seen has been executed, Iranian state media has said.
Mahafarid Amir-Khosravi, also known as Mansour Aria, was hanged at Tehran’s Evin prison on Saturday after being convicted of a scam that was said to have cost Iranian banks nearly £1.5 bn.
Alongside Khosravi, 39 defendants were convicted for fraud, with four others being sentenced to death.
According to Khosravi’s lawyers, the execution had taken place in secret and without their knowledge.
Gholam Ali Riahi, Khosravi's lawyer told Iranian news website khabaronline.ir that “he had not been informed of the execution,” and that Khosravi’s assets were at the “disposal of the prosecutor’s office.”
The crimes that led to Khosravi’s death related to a massive campaign of fraud that had started in 2007.
The fraud involved Khosravi forging documents to get credit from Iran’s biggest bank, Bank Saderat.
Khosravi used the credit to purchase state-owned assets including Iran’s major steel producer Khuzestan Steel Co.
Khosravi also used the money to buy 35 other companies, which included a mineral water producer, a meat importer and a football team.
The trial has raised questions about the level of corruption in the state-regulated economy of Iran.
Many believe that during the administration of President Mahmoud Ahmadinejad corruption was rife throughout those that controlled the country’s economy.
The government denied any involvement with the actions of Khosravi.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments