Saturday, October 1, 2011

Bank Melli ex-Chairman in Toronto

Mahmoud Reza Khavari, the former chairman of the board and managing director of Iran’s largest bank, the state-owned Bank Melli, has reportedly fled Iran and arrived in Toronto, where he owns a home. Bank Melli was one of the banks involved in a massive embezzlement scandal. Khavari resigned his post on Tuesday. It is not uncommon for the Islamic Republic’s elite to have dual citizenship or close relatives living in the West.

Bank Sedarat and Bank Saman are also implicated in the $2.6 billion fraud, biggest in the country’s history, and their chairmen were removed from their posts.

Toronto’s The Globe and Mail has published a picture of Mr. Khavari’s home in the city's affluent Bridle Path neighborhood and reports that the property is valued at $3 million.

Khavari's Home in Toronto. Photo: J.P. Moczulski /The Globe and Mail. 30 September 2011


Anonymous said...

How did someone manage to get out of the country after resigned and implicate in fraud is beyond belief. But again in IRI you can virtually bribe your way through anything.

The irony was that a spokesman was saying (after he had resigned) that this guy was on a business trip abroad. A business trip abroad after resigning!

I guess that $3Million house came from his savings as Bank Melli chairman.

Anonymous said...

The difference between an Iranian bank exec who steals and an American bank exec who steals, is that the former has to flea the country, where as the latter places a call to the whitehouse and gets a bailout.

Why are the US and Canada not arresting these people?

Anonymous said...

Iran has become a free for all the criminals and terrorists to do as they please.

God save Iran from these Gangsters.

Anonymous said...

Anon 4:01 PM

"Why are the US and Canada not arrested these people?"

The subject is about so called bank manager from the Islamic state which like the rest of the gangsters that operate in Iran use their position to swindle the wealth of the Iranian nation.

So stop your propaganda agenda because it just don't wash with Iranians.

Steve said...

Well, Mahmoud Reza Khavari is gone and as a person he's certainly no loss to Iran.
Not gone is the damage he left behind in the Iranian economy.
$3 billion is not peanuts. Lots of Iranian people may have lost their retirement savings in that scam.
That is the really sad thing about this fraud.

Anonymous said...

----"Why are the US and Canada not arresting these people?"---

Probably because he didn't hike into Canada. Had he done that, it would have proven that he's a spy.

Anonymous said...

8:59, I know what the subject is and that's why I again ask why Canada and the US don't arrest this Iranian.

Anonymous said...

Anon 5:49 PM

"I know what the subject matter is and that's why I again ask why Canada and US don't arrest this Iranian."

Sorry if I was abrupt.May be this Iranian has Canadian passport because he already owns a mansion in Toronto so he must have some kind of Party Bazi there.God knows!

Note:Lot of stolen money from Iran ends up in Canada for example in property's and business and so on.