Iranian billionaire sanctions evader on trialOctober 8, 2015
Even leaving aside the terrorist financing and sanctions evasion, Iran’s financial system is as clean as a sewer. Assets unfrozen by the Iranian nuclear deal aren’t only at risk of being used for nefarious purposes, but are also at risk for theft, mismanagement, and to worsen the corruption of endemic to the Iranian regime and its associates abroad. This trial in Turkey helps illustrate that point. From Today’s Zaman:
Iran may confiscate Zanjani’s assets in Turkey-linked graft case
All assets belonging to Babak Zanjani — supposedly the richest businessman in Iran who also has alleged ties with the prime figure in Turkey‘s graft scandal — might be confiscated, as sought in the indictment of his trial, known as the biggest corruption case in Iran’s recent history.
The Turkish daily Hürriyet reported on Monday the third session of the first hearing into Zanjani’s trial, which started on Oct. 3, and cited the Tehran deputy chief prosecutor who continued to be the reader of the 237-page indictment following the first and second sessions that were held on Saturday and Sunday.
While referring to the charges against Zanjani — which are mainly charges of fraud, money laundering and corruption both within Iran and in several other countries, including in Turkey — the deputy chief prosecutor said, “I [therefore] demand the confiscation of all of the defendant’s assets in Iran and other countries, including those assets that have been fraudulently transferred to his associates, in the national interests of the Islamic Republic of Iran.”
Zanjani, believed to be the richest man in Iran who has reportedly $14 billion in assets, is known for helping the Iranian government evade the Western sanctions that were imposed on the country over its disputed nuclear program.