News ID: 276115
Published: 0210 GMT October 30, 2020

Iran busts major network involved in bank fraud

Iran busts major network involved in bank fraud

Iran’s Intelligence Ministry arrested members of a major network involved in forging bank documents.

In a statement on Thursday, the Intelligence Ministry said 15 members of the network were arrested in the northwestern province of East Azarbaijan over fraudulent activities and organized banking scam, Tasnim News Agency reported.

Members of the network were involved in forging documents and buying and selling dishonored and bounced checks.

According to the statement, close cooperation between the intelligence units and Judiciary officials of the province resulted in the detection of the network and arrest of its members. 

Two years ago, the Judiciary proposed the creation of the tribunals to Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei to enable decisive and expeditious legal proceedings against those involved in corrupt economic practices and disrupting of the country’s economic operations.

Ever since, the Islamic Republic has successfully tracked and hunted down many heavy-weight corrupters, who had monopolized profit across key economic sectors.

 

 

The courts were established in 2018 on the request of former Judiciary chief Ayatollah Sadeq Amoli Larijani in the face of the special economic conditions which he described as "an economic war."

The situation arose in the wake of record devaluation of the rial after US President Donald Trump abandoned a landmark nuclear deal with Iran in May 2018 and announced the most restrictive sanctions on the Islamic Republic.

Dozens of people were arrested for disrupting the forex and gold coins market, including a man and his accomplices who had hoarded two tonnes of gold coins over several months in order to manipulate the market.

 

 

   
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