Categories: Government

Iranian Billionaire, Babak Zanjani Sentenced to Death

Iranian Billionaire, Babak Zanjani Sentenced to Death

Iranian Billionaire, Babak Zanjani, has been sentenced to death in an oil related fraud after a court found him guilty in a case involving an oil fund, Iranian Students’ News Agency reported on Sunday.

“The court found enough evidence to convict Zanjani and two other people, Gholam Hossein Mohseni-Ejei”, a spokesman for Iran’s judiciary, said.

Zanjani, who worked as an informal dealer at the oil ministry, was accused of embezzling $2.7 billion and transferred the money out of Iran through Tajikistan branch of his own bank, First Islamic Investment Bank, according to oil Minister Bijan Zanganeh.

Previously, Zanjani had been blacklisted by the U.S. and the European Union for helping Iran evade sanctions, according to the BBC.

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Share
Published by
Samed Olukoya

Recent Posts

Stock Market Rallies as NGX Capitalisation Hits N64.5 Trillion

The Nigerian Exchange Limited (NGX) closed in the green on Wednesday as market capitalisation surged…

1 hour ago

NCC-Approved Tariff Adjustment to Spur $150M in Telecom Investments – GSMA

The recent 50% hike in telecommunication tariffs approved by the Nigerian Communications Commission (NCC) is…

2 hours ago

Pounds to Naira Black Market Exchange Rate Today, 30th January 2025

How Much is Pounds to Naira Today in Black Market? The British pound (GBP) continues…

3 hours ago

Dollar to Naira Black Market Exchange Rate Today, 30th January 2025

How Much is Dollar to Naira Today in Black Market? The dollar to naira exchange…

6 hours ago

How to Travel to Canada from Nigeria: A Complete Guide

Canada remains one of the most sought-after destinations for Nigerians due to its strong economy,…

11 hours ago

How to Convert Gift Cards to Naira: A Guide to Selling Your Gift Cards for Cash in Nigeria

Gift cards have become a popular means of gifting and making online purchases, but many…

11 hours ago