Iran billionaire Babak Zanjani sentenced to death for corruption
March 6, Tehran: Judiciary officials have said that Iranian billionaire tycoon Babak Zanjani has been sentenced to death for corruption.
He was arrested two years back in December after accusations that he withheld billions in oil revenue channeled through his companies. He denies the allegations, according to reports.
A judiciary spokesperson said at a press briefing that Zanjani was convicted of fraud and economic crimes. Two others were also sentenced to death and all were ordered to repay embezzled funds.
One of Iran's richest men, Zanjani had been blacklisted by the US and EU for helping Iran evade oil sanctions in place at the time.
He had acknowledged using a web of companies in the UAE, Turkey, and Malaysia to sell millions of barrels of Iranian oil on behalf of the government, BBC news reported.
Zanjani is said to be worth about some $13.5bn (£9.5bn).
The Oslo Times