Iran Sentences Four People to Death By Hanging For Their Part an a $2.6 Billion Bank FraudSubmitted by PWA on Mon, 07/30/2012 - 20:35
DUBAI, July 30 (Reuters) - An Iranian court has sentenced four people to death for a billion-dollar bankfraud that tainted the government of President Mahmoud Ahmadinejad, state media reported on Monday.
Iranians, hit by sanctions and soaring inflation, were shocked by the scale of the $2.6 billion bank loan embezzlement that was exposed last year and by allegations it was carried out by people close to the political elite or with their assent.
Of the thirty-nine people tried for the fraud - the biggest in the Islamic Republic's history - four were sentenced to hang, the IRNA state news agency reported.
"According to the sentence that was issued, four of the defendants in this case were sentenced todeath," prosecutor general Gholam-Hossein Mohseni-Ejei told IRNA.
Two people were sentenced to life and others received jail sentences of up to 25 years, Mohseni-Ejei said. In addition to jail time, some were sentenced to flogging, ordered to pay fines and banned from government jobs.