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Iranian billionaire Babak Zanjani sentenced to death | Iranian billionaire Babak Zanjani sentenced to death |
(about 1 hour later) | |
Iranian billionaire businessman Babak Zanjani has been sentenced to death for corruption, justice officials say. | Iranian billionaire businessman Babak Zanjani has been sentenced to death for corruption, justice officials say. |
He was arrested in December 2013 after accusations that he withheld billions in oil revenue channelled through his companies. He denies the allegations. | He was arrested in December 2013 after accusations that he withheld billions in oil revenue channelled through his companies. He denies the allegations. |
Zanjani was convicted of fraud and economic crimes, a judiciary spokesperson said at a press briefing. | Zanjani was convicted of fraud and economic crimes, a judiciary spokesperson said at a press briefing. |
Two others were also sentenced to death and all were ordered to repay embezzled funds. | Two others were also sentenced to death and all were ordered to repay embezzled funds. |
The ruling can be appealed. | The ruling can be appealed. |
One of Iran's richest men, Zanjani had been blacklisted by the US and EU for helping Iran evade oil sanctions. | |
He had acknowledged using a web of companies in the UAE, Turkey, and Malaysia to sell millions of barrels of Iranian oil on behalf of the government since 2010. | He had acknowledged using a web of companies in the UAE, Turkey, and Malaysia to sell millions of barrels of Iranian oil on behalf of the government since 2010. |
Before his arrest, Zanjani had claimed international sanctions were preventing him from handing over $1.2bn still owed to the government. | Before his arrest, Zanjani had claimed international sanctions were preventing him from handing over $1.2bn still owed to the government. |
But at his recent trial, prosecutors claimed he still owed the government more than $2.7bn in oil revenue. | But at his recent trial, prosecutors claimed he still owed the government more than $2.7bn in oil revenue. |
He was taken into custody a day after President Hassan Rouhani ordered his government to fight "financial corruption", particularly "privileged figures" who had "taken advantage of economic sanctions" under the previous government. | |
'Corrupt parasites' | |
The trial, unusually, was held in public, AFP news agency reports. | |
In a 2013 interview with the BBC, Zanjani played down his political connections in Iran, saying: "I don't do anything political, I just do business." | In a 2013 interview with the BBC, Zanjani played down his political connections in Iran, saying: "I don't do anything political, I just do business." |
Zanjani has said he is worth about some $13.5bn (£9.5bn). | Zanjani has said he is worth about some $13.5bn (£9.5bn). |
International sanctions on Iran were lifted in January after a watchdog confirmed it had complied with a deal designed to prevent it developing nuclear weapons. | International sanctions on Iran were lifted in January after a watchdog confirmed it had complied with a deal designed to prevent it developing nuclear weapons. |
Oil minister Bijan Zanganeh has urged foreign investors to avoid middlemen, whom he described as "corrupt parasites". | |
Who is Babak Zanjani? |