Mar 6, 2016, 4:02 PM
News Code: 81992363
0 Persons
Oil billionaire Babak Zanjani sentenced to death (update 2)

Tehran, March 6, IRNA – Oil billionaire Babak Zanjani and two other defendants were sentenced to death penalty on Sunday, spokesman for the Judiciary Gholam-Hossein Mohseni Ejei announced on Sunday.

They were also sentenced to repay the money embezzled from the National Iranian Oil Company (NIOC).
Zanjani, 41, was arrested on December 30, 2013, on charges of corruption. He is one of Iran's wealthiest businessmen, with a fortune worth an estimated 14 billion dollars.
Zanjani and two other defendants face charges of money laundering lodged in a 40,000-page indictment.
The two defendants are facing charges of complicity in money laundering, forgery and fraud.
Zanjani was jailed when charges were brought up against him for misappropriating two billion euros belonged to the Ministry of Petroleum.