BREAKING NEWS

Iran executes two men accused of economic crimes

By REUTERS

NOVEMBER 14, 2018 08:44

GENEVA - Iran executed two men accused of economic crimes on Wednesday, part of an effort to stem financial misconduct as the country faces an economic crisis and new US sanctions targeting its oil sector.

One of the two executed men was Vahid Mazloumin, dubbed the “sultan of coins” by media, a trader accused of manipulating the currency market, according to Mizan, the news site of the Iranian judiciary.

Mazloumin was allegedly caught with two tons of gold coins, according to the Iranian Students’ News Agency (ISNA).

The second man was part of Mazloumin's network and had been involved in the sale of gold coins, Mizan reported.

Both of them were convicted of “spreading corruption on earth”, a capital offence under Iran’s Islamic laws.

Special courts focused on financial crimes were set up in August with the approval of Supreme Leader Ayatollah Ali Khamenei, the highest authority in the Islamic Republic.

The courts have handed out at least seven death sentences since they were set up and some of the trials have been broadcast live on television.

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