Amidst the largest and growing banking scandal in Iranian history, the president of Bank Melli, the country’s largest state-owned bank, resigned today and the presidents of two large privately-held banks, Bank Saderat and Bank Saman, are forced to resign by the Central Bank of Iran. The three banks are accused of issuing letters of credit in a scam, which amounted to $2.6 billion embezzlement.
Earlier in the day, Iran's Prosecutor General Hojjatoleslam Gholam-Hossein Mohseni-Ejei said 22 arrest warrants have been issued in connection with the bank fraud. He did not say how many of those people have actually been arrested.
In total, seven state-owned and private Iranian banks are said to be involved in the case, which allegedly involved forging documents to secure multi-billion-dollar loans and purchase state-owned companies.