Tuesday, September 27, 2011

Growing Banking Scandal in Iran

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.


Mohammad Rahim Al-Shukri said...

While the total embezzlement amounted to $2.8 billion, only a fraction of this ($25 million) has left the country. The rest is inside and is, or will be recovered.

Anonymous said...

Mohammad Rahim

Where is your proof that all the stolen money that belongs to Iran is still in the country ?
So you are claiming that it's alright that this fascist theocracy has stolen as long it remains in the country because it might be recovered ?
Well I have got news for you this regime has stolen Tens of Billions of Dollars and not one cent of it has been returned.

For example $18.5 Billion went to Turkey via the Turkish border and confiscated by Turkish authorities.

The $12 Billion oil scam unaccounted for.

The Tens of Billion of Dollars gone missing during the oil sales when it was going for over $130 a barrel.

Not ONE CENT has been returned so what makes you think that these charlatans will return that $2.8 Billion ?

Mohammad Rahim Al-Shukri said...


What is your proof that the money is outside or how can you prove the rest of the gibberish you claim?

My source for the $25 million staying in the country? No other than BBC Persian!

Anonymous said...

Mohammad Rahim

Look up the Turkish media about the $18.5 billion and we see who talks Gibberish.
Who told the BBC about that information regarding the $25 million?
Who else but the Islamic news media or the Charlatans which are part of the government.You can believe what you like but the facts are that this regime is a murdering thieving fascist theocracy and every Iranian knows that baring a few idiots and Islamist.

Anonymous said...

This is why the banking sanctions actually helped the Iranian economy. The problem in Iran is that people move their money out to European banks thus removing capital from the Iranian economy, but now Iran doesn't have to worry about that.

Anonymous said...

you guys are arguing over a moot point.

Whether or not the money has left is irreverent.

We can all agree that this sort of thing happens everywhere with or without the knowledge of the regulatory bodies.

What is interesting is the decision by the Judiciary body to act on this particular instance of "embezzlement".

Anonymous said...

The BBC Persian really??

The same BBC Persian that helped broadcast that uneducated mullah Khomeini that lead our country to destruction under the yoke of Islamic terrorism.

Anon 3:17 PM is right where is all the money gone and I doubt we will ever get it back.

Anonymous said...

At least they have made efforts to arrest them. Maybe you should provide details to the AG of the USA on how to go about arresting swindlers who steal trillions.

Anonymous said...

Anon 11:59 PM

If they arrest all the real swindlers in Iran there will be no Islamic regime left !

That's why they have arrested the small fish or lets just call them stool pigeons.

Anonymous said...

A few months ago after my first visit to Iran this year, I reported about the 30-40 so called private banks and psuedo private banks (sherkat eghtesadi) that have sprung in Iran. Having talked to few branch managers of these banks, it was clear that all were created by interest groups, all involved in lending and earning money through speculation (land, gold, any other commodity) and more importantly a channel for these interest group to siphon the money out of the country.

Apparantly Bank Aria that I saw a brach of it in my hometown is the result of such a scandal.

The irony is that there are 70 million potential thiefs in Iran now. You should go there for yourself to see the level of eftezah!!

when that guy Amir Taheri was writing fairy tale about Iran's economic success etc, I was telling that it was all nonsense. And there we go this is the proof.

Frankly there is no trust in anyone. When the top ranking members of this wretched government are all corrupt and dozds, what else is expected!

Like all other economic criminals, these guys know how to plan things. They all get a safe heaven first. Canada seems to have replaced Dubai as the crooks homeland for Iranians, aking to what Spain was for UK criminals 20 years ago! Everyone gets a foothold there. Then the passport comes. All go back to Iran. Once the fraud is complete they make safe journey abroad. The previous boss of Bank Melli has resigned and now is on business trip to Canada. Son of that crook Rafsanjani is now in London studying for 10 years! This is diabolical. The problem is that all these people are gadazadeh! These people survive an atomic bomb!

I bet noone would bother pressurising Canada to return these crooks and Canada would not bother either citing human rights etc for these animals.

This is the reality of Iran now!

Anonymous said...

BTW I heard that the oil stablisation fund is depleted as well!!

Anonymous said...

Don't worry what the west does pal
worry about the terrorists that have ruined Iran.
Trillions?? Where did you pick that rubbish from ?
Have you heard of Watergate?
Saw what America did to Nixon or even Bill Clinton after his scandal?
I can't see Khamemei being put to justice for his crimes by the Islamist regime unless the Iranian people overthrow the tyrannical system in it's entirety.

Anonymous said...

Anon 6:18 PM

My friend I am of the same feeling as you and agree that this regime has turned our country into a criminals den.
To save Iran we must bring this regime of criminals down and put them to justice.
Thank you for your time to explain.

Steve said...

Former Bank Melli CEO fled to Canada

The former CEO of Saderat Bank opens up about the recent banking scam and says Mahmoud-Reza Khaavari, the head of Bank Melli, fled to Canada after resigning for his role in the scandal.


Anonymous said...

"Where did you pick that rubbish from ? Have you heard of Watergate?"

Watergate was from 40 years ago. Today's US has nothing to do with that. And if you don't know what the trillions refers to, then you must have been asleep over the past three years.

Anonymous said...

Hey, iran's GDP doesn't even total a trillion dollars so no one has to worry about a trillion being stolen.

The US GDP is 18 times as large and while no one is going to embezzle a trillion bucks in the US, despite what some lunatic is claiming, at least it's possible.

Anonymous said...

Regarding the term lunatic, it might describe a person who posts nonsense with multiple exclamation points in each paragraph!!!!!

Anonymous said...

Anon 5:03

A bit like you really !