11503
$2.3b Fraud Case
Economy, Business And Markets

$2.3b Fraud Case

Judiciary Chief Ayatollah Sadeq Larijani has criticized the banking system for providing loans without receiving sufficient or valid collaterals, IRNA reported.   The judiciary will soon look into three major financial fraud cases, said Larijani in a meeting of in Khorramabad, Lorestan. “One of the cases deals with the matter that a private bank has given a single individual a substantial loan of 65 trillion rials ($2.3 billion at official exchange rate),” he said. “Apparently,” he added, “portions of the amount have been transferred abroad in form of foreign exchange.” He urged authorities to take necessary precautions to prevent illegal exploitation of national resources. 

Short URL : http://goo.gl/yrRd2D

You can also read ...

On Sunday, the rial traded at 46,130 to the dollar, up 1.8%. 
With its foreign exchange package now in full swing, the...
Telegram Raises $850m From Investors Before Planned ICO
The chat app company Telegram filed documents with the US...
Iran-Greece Trade Tops $1.5 Billion
Iran exported more than €1.26 billion worth of goods to Greece...
Ban on Contraband Cellphones in Iran Reaches LG
Following the government’s belated policy of curbing cellphone...
Iran Decision on FATF Agenda
The Financial Action Task Force–the global anti-money...
Intel Hit With  32 Lawsuits
Intel has revealed that the company is facing at least 32...
Facebook has to delete all data it has gathered on Belgian citizens.
A Belgian court threatened Facebook (FB.O) on Friday with a...
Iran and Turkey finalized the $1.4 billion currency swap agreement.
Iran has signed memoranda of understanding and protocols...

Trending

Googleplus