Godfathers of Iran's Hidden Economy on Trial; Corruption Still Rampant
Independent Aggeragtor of Iran-related News/Events, Kodoom.com: The new Head of Iran's Islamic Judiciary has continued sweeping anti-corruption prosecution of godfathers of Iran's hidden economy, a group of business tycoons who amassed their astronomical wealth and influence in oil, sports, insurance, travel and tourism industries thanks to the economic sanctions imposed on the country.
Prominent names so far indicted or convicted include Babak Zanjani (Director of United Arab Emirates based Sorinet Group, with an estimated net worth of $13.5 billion, currently in prison), Hossein Hedayati (business tycoon, owner/investor in several football clubs), Hossein Fereydoun (President Rouhani's brother), Mohammad Reza Rahimi (President Ahmadinejad's First Vice President) and heavyweights such as Hadi Razavi (Son-in-law of current Labor Minister) and Mohsen Pahlevan Moghaddam, Founder of the defunct Shandiz Urban Development project in the holy city of Mashhad who was sentenced to life in prison this week (with links to businesses in Afghanistan, United Arab Emirates and Tehran restaurant chains).
Dr. Sadegh Ziba Kalam, a social commentator and reformist Professor in Iran has recently blamed widespread corruption despite the judicial crack down on a centralized government-based subsidized economy.
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