December 10, 2017 8:54 AM

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Iran sentences fugitive ex-bank chief to prison in absentia

In Iran, the former head of the country's largest state-controlled bank who fled to Canada amid a massive embezzlement case has been handed a lengthy prison sentence in absentia.<br/><br/> An Iranian news agencies reported that Mahmud Reza Khavari, the former head of Bank Melli Iran, was sentenced to 20 years in prison for "disrupting the economic system<br/><br/>Head of Tehran's Revolutionary Court Musa Ghazanfarabadi said, Khavari had also been handed a 10-year sentence for bribery to run concurrently with the longer prison term. <br/><br/>Each of the charges carried a fine of three million dollars. Khavari, who obtained Canadian citizenship in 2005, joined his family there in 2011 in the wake of the Dollar 2.6 billion fraud scandal, described as the largest-ever such case in Iran. <br/><br/>Tehran has appealed to Canada for assistance, but Ottawa has refused, citing the absence of a bilateral extradition treaty. The fugitive banker had been accused of embezzlement, fraud, taking bribes, and illegally acquiring property.

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