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| Iran billionaire Babak Zanjani sentenced to death | |
| (35 minutes later) | |
| Billionaire Iranian 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, 42, was convicted of fraud and economic crimes, a judiciary spokesperson said at a press briefing. | |
| One of Iran's richest men, Zanjani was blacklisted by the US and EU for helping Iran evade oil sanctions. | |
| Two others were sentenced to death along with him and all were ordered to repay embezzled funds. The ruling can be appealed. | |
| Zanjani had acknowledged using a web of companies in the United Arab Emirates, Turkey, and Malaysia to sell millions of barrels of Iranian oil on behalf of the government since 2010. | |
| Before his arrest, Zanjani had argued that international sanctions were preventing him from handing over $1.2bn still owed to the government. | |
| But at his recent trial, prosecutors said 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. | 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' | 'Corrupt parasites' |
| The trial, unusually, was held in public, AFP news agency reports. | 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. | |
| For years things worked well for the businessman who appeared in photos with some high-ranking officials and was not shy of showing off his wealth, such as private jets and luxury cars, Amir Azimi of BBC Persian reports. | |
| But when the local media started to report on his wealth, he came under the spotlight and under suspicion. | |
| The death sentence could have wider implications for Iran's economy, where many were involved in finding ways to avoid the sanctions, our analyst adds. | |
| 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 describes as "corrupt parasites". | |
| Who is Babak Zanjani? | Who is Babak Zanjani? |