IRAN BEGINS TRIAL OF 14 EXECUTIVES ACCUSED OF EMBEZZLING MORE THAN $7 BILLION

On 11th March, The National in UAE reported that a trial has started in an Iranian court for 14 petrochemical industry executives charged with embezzling $7.4 billion under rising pressure from public anger over widespread corruption.  The 14 executives are accused of embezzling from state funds by creating overseas shell companies to circumvent sanctions.  11 were tried in court and 3 were tried in absentia.

https://www.thenational.ae/world/mena/iran-begins-trial-of-14-executives-accused-of-embezzling-more-than-7-billion-1.835624

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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