Moslehi: "Small amount" left Iran in bank fraud

Intelligence minister gives details as judiciary chief warns about revelations

rferl.org: Surveying the scale of an embezzlement scandal that has rocked Iran, the head of the country's judicial investigation unit called it "the most unprecedented financial corruption case in the history of Iran." But with $2.6 billion believed to have been defrauded from several Iranian banks, says Iran watcher Jamshid Assadi of France's Burgundy School of Business, investigative head Mostafa Pour Mohammadi is being modest in his claims. "This scandal has been really exceptional," says Assadi. "You cannot find any similar -- proportionally, if you consider GDP -- financial scandal, banking scandal in any country." >>>

21-Sep-2011
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Arj

Ironic

by Arj on

Interestingly when IRI arrests people on political charges, the 'innocent till proven guilty' clause does not apply. Yet, embezzlers and thieves get the benefit of the doubt! What else can be expected when honourable citizens are in prisons while criminals and crooks are running the country!   


MM

$2,600,000,000 (seh hezaar milliard) is a small amount?

by MM on

.


vildemose

I like him to be

by vildemose on

I like him to be investigated first and foremost. 

Reform requires the consent of the corrupt


Jahanshah Javid

Risky business

by Jahanshah Javid on

Moftkhori and corruption are part of any economy. The issue is how much moftkhori and corruption. In IRI's case, a lot. The system is corrupt to the core.

When projects -- more often than not -- get approved based on ties to the political and religious establishment rather than merit, when most of the industrial world refuses to do business with you, you have no choice but to turn to shady characters.

Monopolizing power has its price.


TheMrs

Rich and powerful people

by TheMrs on

Rich and powerful people always manage to take moft khori to another level. They have no shame. And they're every where! If only they'd share some of the wealth they steal from peons (rest of society). I think that sense of entitlement and lack of boundary starts in childhood. Maybe they started by stealing a plum and didn't get punished! Why we let them get away with it each and everytime is beyond logic.