Zamaneh Media
  • Latest Articles
  • Latest News
  • About Zamaneh Media
    • Exiled Media Report
    • Sponsors
    • Donate
    • Contact us
    • Legal
  • Advertise
No Result
View All Result
  • Latest Articles
  • Latest News
  • About Zamaneh Media
    • Exiled Media Report
    • Sponsors
    • Donate
    • Contact us
    • Legal
  • Advertise
No Result
View All Result
Zamaneh Media
No Result
View All Result

Cabinet to get report on “greatest” fraud case

by Zamaneh Media
September 28, 2011
in Latest Articles
Reading Time: 2 mins read
0
Cabinet to get report on “greatest” fraud case

Iran’s minister of finance and the head of its Central Bank will give their final report regarding the $3-billion bank fraud at today’s cabinet meeting.

The Fars news agency reports that the fate of the CEOs at the Bank of Saderat and the Melli Bank will be determined today.

Yesterday brought the resignation of Mahmoudreza Khavari, the head of Melli Bank, because of his bank’s involvement in the fraud, which was initiated through the Bank of Saderat.

Meanwhile, the head of the Bank of Saderat, the head of the Bank of Saman Eghtesad and another member of Melli Bank’s executive management were dismissed.

Fars reported that Khavari’s letter of resignation included an apology to Iran’s Supreme Leader Ayatollah Khamenei. He has blamed the Bank of Saderat for perpetuating the embezzlement and expressed regret that the management of all the Melli Bank branches in the open region have “exceeded their authority.”

The head of the Bank of Saderat, Mohmmad Jahromi, was dismissed for issuing the first line of credit without the necessary due diligence, and managers of the Melli and Saman Banks are being questioned for not observing the legal loan limits.

The fraud is being attributed to the owner of the Amir Mansour Arya financial group, which has been able to fraudulently acquire over $3 billion dollars in loans and lines of credit over the past four year through its connections in the Bank of Saderat and the Melli Bank. The case involves eight public and private banks and has been dubbed the “greatest case of embezzlement in Iranian history.”

Related Posts

Navvab Security Ranger Company: Quds Conquerors or Suppressors of the People?
Featured Items

Navvab Security Ranger Company: Quds Conquerors or Suppressors of the People?

January 31, 2023
Sarina Saedi, a 15-year-old Teenager Killed by Severe Baton Blows in Sanandaj
Featured Items

Sarina Saedi, a 15-year-old Teenager Killed by Severe Baton Blows in Sanandaj

January 11, 2023
Iranian Uprising of “Woman, Life, Freedom”: Redeeming the Universals
Featured Items

Iranian Uprising of “Woman, Life, Freedom”: Redeeming the Universals

January 3, 2023
Workers in the "West Oil and Gas Production Company" located in Cheshmeh Khosh protest on 11 Aug 2022 as part of a nationwide protest of oil and gas workers in more than 60 production and support units in this sector.
Latest Articles

Download Zamaneh’s 22nd Labor Rights Report

January 1, 2023
Iran Adds Radio Zamaneh, EU/UK Individuals and Entities to Blacklist
Latest News

Iran Adds Radio Zamaneh, EU/UK Individuals and Entities to Blacklist

December 13, 2022
Latest Articles

Student Day in Iran: The Uprising Carries On Despite Threats

December 8, 2022

RSS Iran in Other Media

  • French Prisoner Held In Iran On Hunger Strike For Second Time - ایران اینترنشنال February 6, 2023
  • The look from inside Iran after nationwide protests - Northern Public Radio (WNIJ) February 6, 2023
  • Iran's Natural Gas Ambitions Face A Tough Geopolitical Reality - OilPrice.com February 6, 2023
  • Biden Gives Iran and Russia Green Light To Continue Nuclear Work - Washington Free Beacon February 6, 2023
  • Iran keeps sending drones to Russia, set to deepen cooperation with Moscow - White House - Ukrinform February 6, 2023
  • Power of peace in Iran's protests - CSMonitor.com - The Christian Science Monitor February 6, 2023
  • San Francisco's Asian Art Museum Lends Its Facade to Iran's Protest Art - Hyperallergic February 6, 2023
  • Iran, Russia catch their breath with new banking deal: Expert - Press TV February 6, 2023
  • Antique Rugs From Caucasus, Iran, Turkey Reflect History in Patterns - Voice of America - VOA News February 6, 2023
  • Iran’s Government Tries To Ram Through Shady ‘Privatization’ Scheme - ایران اینترنشنال February 6, 2023
  • Protests in Iran: Supreme leader pardons 'large number' of prisoners - FRANCE 24 English February 6, 2023
  • Russia to Swarm Ukraine's Air Defenses With Fresh Batch of Iranian Drones - Newsweek February 6, 2023
  • Jill Biden at the Grammys: Story Behind the First Lady's Special Appearance - PEOPLE February 6, 2023
  • Why Iran's Unofficial Protest Anthem 'Baraye' Won a Grammy - TIME February 6, 2023
  • Exclusive: Iran to start revamp at Venezuela's largest refining complex within weeks - sources - Reuters.com February 6, 2023
  • Jill Biden honors Iranian singer with Grammys' new 'social change' award - Daily Mail February 6, 2023
  • Iranian Singer Who Faces Prison Wins Grammy For Protest Anthem - HuffPost February 6, 2023
  • Freezing Cold Puts Iran's Natural-Gas Ambitions On Ice - Radio Free Europe / Radio Liberty February 6, 2023
  • Iran Singer Who Faces Prison Wins Grammy for Protest Anthem - Voice of America - VOA News February 6, 2023
  • Iran’s revolution of freedom - European Council on Foreign Relations February 6, 2023
Zamaneh Media

© 2020 Zamaneh Media

More information

  • Sponsors
  • Donate
  • About us
  • Contact us
  • Legal

Follow Us

No Result
View All Result
  • Latest Articles
  • Latest News
  • About Zamaneh Media
    • Exiled Media Report
    • Sponsors
    • Donate
    • Contact us
    • Legal
  • Advertise

© 2020 Zamaneh Media