NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Joe Biden
    United States of America
    COVID-19
    Russia-Ukraine crisis
    NewsBytes
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout


    India Business World Politics Sports Technology Entertainment Auto Lifestyle Inspirational Career Bengaluru Delhi Mumbai Visual Stories Find Cricket Statistics Phones Reviews Fitness Bands Reviews Speakers Reviews

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
     
    Home / News / World News / Iran's Supreme Court confirms tycoon Babak Zanjani's death sentence
    World

    Iran's Supreme Court confirms tycoon Babak Zanjani's death sentence

    Iran's Supreme Court confirms tycoon Babak Zanjani's death sentence
    Written by Ramya Patelkhana
    Dec 05, 2016, 05:35 am 2 min read
    Iran's Supreme Court confirms tycoon Babak Zanjani's death sentence
    Credits

    The Supreme Court of Iran has confirmed well-known billionaire tycoon Babak Zanjani's death sentence, according to the country's state media. Zanjani was awarded death penalty by a primary court earlier this year over several charges, including disputing Iran's economy and money laundering. He was arrested as a part of the crackdown on alleged corruption in former Iranian President Mahmoud Ahmadinejad's rule.

    About Babak Zanjani

    Babak Morteza Zanjani was born on 21 March 1974 in Tehran, the capital of Iran; he was blacklisted by the EU and US for helping Iran evade oil sanctions. He is an Iranian businessman and was the Managing Director of UAE-based Sorinet Group - one of Iran's largest conglomerates. Babak Zanjani stated that his net worth was $13.5 billion in 2013.

    Sorinet's businesses

    Sorinet's businesses include finance and banking, commercial aviation, hospitality, infrastructure, building material, information technology, international real estate development, and cosmetics. It operates in countries including Iran, United Arab Emirates, Turkey, Tajikistan, Malaysia, China.

    Named in the European Union's Restrictive Measures Against Iran

    Zanjani was named in the European Union's Restrictive Measures Against Iran (Dec'12) on the grounds of "assisting designated entities to violate the provisions of the EU Regulation on Iran and is providing financial support to the government of Iran." He was claimed to be "a key facilitator for Iranian oil deals and transferring oil-related money." Denying the accusations, Zanjani declined ties with Iran's government.

    Key player in selling Iran's oil

    Zanjani went from trading sheepskins to emerging as a key player in selling the country's oil when international sanctions were imposed on Iran's nuclear program. In 1999, he worked as a driver for Iran's central bank head after which he started out in currency exchange.

    Awarded death sentence for embezzlement and spreading corruption

    On 30 Dec'13, Babak Zanjani was arrested, after the election of President Hassan Rouhani, for his alleged involvement in a Turkish corruption scandal. On 6 Mar'16, he was convicted of fraud and economic crimes. He was awarded death sentence for embezzlement and "spreading corruption." According to Iran's Oil Ministry, Zanjani owes over €2 billion for oil sales he made on behalf of Ahmadinejad's government.

    Zanjani's associates' sentence upheld

    Two of Zanjani's associates, Hamid Fallah-Heravi and Mehdi Shamszadeh, were also sentenced to death; they are facing charges of complicity in money laundering, fraud, and forgery. Gholam-Reza Ansari, a senior official at Iran's Supreme Court, announced the death penalty for the two had been upheld.

    Share this timeline
    Facebook
    Whatsapp
    Twitter
    Linkedin
    Latest
    Iran
    Supreme Court Of India
    United Arab Emirates
    United States of America

    Latest

    National Nougat Day: Try these recipes for a 'sweet' celebration Food
    2023 Polestar 2 BST edition 230: Top features explained Polestar
    Happy birthday, Archana Puran Singh: Decoding her immense Instagram popularity  Archana Puran Singh
    Happy birthday, Prakash Raj: 'Major' to Singham,' actor's unmissable movies Bollywood

    Iran

    Syria: Iranian drone attack kills US contractor; peace on edge Syria
    Iran: Suspected targeted poison attacks affect girls from 50+ schools Crime Against Women
    Iran: Schoolgirls fall sick; poisoning by extremist groups suspected Tehran
    India tops internet shutdown list for 5th straight year Internet Shutdown

    Supreme Court Of India

    Sukesh Chandrasekhar pens love letter to Jacqueline Fernandez from jail Sukesh Chandrasekhar
    Differences don't mean confrontation: Kiren Rijiju on alleged Centre-SC clash Kiren Rijiju
    Plea in SC challenging 'automatic disqualification' of convicted MPs, MLAs Rahul Gandhi
    Membership of banned outfit sufficient for prosecution under UAPA: SC Unlawful Activities Prevention Act

    United Arab Emirates

    UAE's Asif Khan slams fourth-fastest century in men's ODIs: Stats Nepal Cricket Team
    Delhi: Man dupes 5-star hotel posing as UAE royal staff Delhi
    UAE bans entry of passengers with single name on passport India
    China, UAE to join hands on moon rover missions China

    United States of America

    Russia to recruit 400,000 soldiers amid Ukraine's 'major counteroffensive' plans Russia
    India records nearly 1,600 daily COVID-19 cases—highest in 5 months COVID-19
    San Francisco: Indian-Americans rally against pro-Khalistan attack on Indian consulate San Francisco
    North Korea tests underwater drone that could create 'radioactive tsunami' North Korea

    Love World News?

    Subscribe to stay updated.

    World Thumbnail
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2023