IslamicFinance.de

Iranian businessman Mahafarid Amir Khosravi, convicted of masterminding a $2.6 billion banking scam, was hanged on Saturday in Tehran''s Evin prison. He was sentenced to death after being convicted of corruption on earth through bribery and money laundering. Revelations about the scandal swept Iran in 2011 when prosecutors uncovered a private umbrella group, led by Amir Khosravi and his brothers. Over the space of two years, Amir Mansour Aria Development Co bought 40 companies with forged letters of credit obtained from several major banks whose managers they had bribed. In addition to Amir Khosravi, three others have reportedly been sentenced to death.