Iran to execute corrupt billionaire

In Tehran, a billionaire, the head of the Sorinet Group, Babak Zanjani, has been sentenced to death on charges of corruption and embezzlement.

The billionaire has been in prison since December 30th 2013, when he was arrested on charges of misappropriation of funds received from the sale of oil during anti-Iranian sanctions.

At the time, the National Iranian Oil Company instructed Zanjani to sell oil for 2 billion euros, but it did not oblige him to provide financial guarantees of repayment of the received money, Trend writes.