Iranian billionaire Babak Zanjani has been sentenced to death for corruption. Justice officials say the businessman was arrested in December 2013 after accusations that he withheld billions in oil revenue channelled through his companies. He denies the allegations. A judiciary spokesperson said at a press briefing, Zanjani was convicted of fraud and economic crimes.
Two others were also sentenced to death and all were ordered to repay embezzled funds.
One of Iran’s richest men, Zanjani had been blacklisted by the US and EU for helping Iran evade oil sanctions in place at the time. 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. Mr Zanjani is said to be having assets worth some 13.5 billion dollars.
The trial was held in public, a rarity for such a major case in Iran, while two of his accomplices were also accused and convicted of “corruption on earth,” the most serious offence under the country’s criminal code, meaning they too will face the death penalty.
“The preliminary court has sentenced these three defendants to be executed, as well as paying restitution to the plaintiff,” Mohseni-Ejeie said, adding that that was the oil ministry.
