50 indicted in Iran's biggest ever banking scam

50 indicted in Iran's biggest ever banking scam

2011-11-28 17:50:31 GMT+7 (ICT)

TEHRAN (BNO NEWS) -- Iranian prosecutors have indicted 50 people in connection with the largest bank fraud in the country's history, officials said on Monday. Dozens more are still being investigated and are expected to be charged soon.

Iranian Prosecutor General Gholam-Hossein Mohseni-Eje'i said authorities have so far investigated and questioned 126 people, up from 80 earlier this month. Of those investigated, 50 people have been charged with corruption and 27 of them remain in temporary police custody.

Seven state-owned and private Iranian banks are said to be involved in the $2.8 billion embezzlement case. Prosecutors previously said that documents were allegedly forged to secure loans which were then used to purchase state-owned companies.

The case triggered a vote in parliament to impeach Shamseddin Hosseini, the minister of economic affairs and finance, earlier this month. However, Hosseini survived the vote after 141 of the 244 lawmakers voted to uphold his position.

In late September, Mohseni-Eje'i said some of those involved in the scam have been released but assured the public that all necessary measures have been taken to prevent the alleged criminals from leaving the country or transferring the money to offshore accounts as the investigation continues.

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