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According to Iranian government newspapers and TV channels, the fraud was planned within seven state-owned and private banks, including Saderat Bank of Iran, and is the largest corruption scandal in Iranian history. [citation needed] The fraud was first identified at Bank Melli, Iran's largest commercial bank. [1]
In 2011, an investigation into fraudulent loans at Bank Saderat, one of Iran's top banks, was launched. It was determined that Khosravi was the mastermind of a scheme that generated US$2.6 billion of loans with forged documents, dating back to 2007. [7]
Bank Saderat Iran was founded on September 7, 1952, by the Bolurfrushan family, Mohammad Ali Mofrah, and several of his associates. The bank was initially established with a capital of 20 million Iranian rials in credit and 3,500 Iranian rials in loans.
In November 1995, following the embezzlement of 123 billion tomans ($820 million) of Bank Saderat Iran Valiollah Seif who was chairman of the bank at the time was criticized. [5] On 2017, Seif's reputation was hit hard when one of the five official Central Bank-approved credit institutions was unable to pay back the deposits of the customers.
As of March 2010, Bank Saderat Iran, Bank Mellat, Tejarat Bank, and Refah Kargaran Bank have been classified as private banks. As of September 2014, Assets: The banks and financial institutions, total claims on the public sector (government and governmental institutions) amounted to 929 trillion IRR ($34.8 billion), and total claims on the non ...
Ministry of Defence and Armed Forces Logistics of the Islamic Republic of Iran (2 C, 18 P) Ministry of Industry, Mine and Trade (Iran) (9 P) Ministry of Intelligence (Iran) (2 C, 4 P)
After his death, Paresi's family sued HSBC, alleging that the bank violated federal anti-terrorism laws through its financial dealings with banks tied to al-Qaeda, including Iran's Bank Melli and Bank Saderat, and Saudi Arabia's Al Rajhi Bank. The lawsuit was linked to the Camp Chapman Attack, carried out by al-Qaeda.
Bank Sepah; Bank Saderat Iran; Bank Melli Iran; Bank Kargoshaee (aka Kargosa’i Bank) Arian Bank (aka Aryan Bank) In other words, these banks were placed on the Office of Foreign Assets Control (OFAC) Specially Designated Nationals List (SDN List). The SDN List is a directory of entities and individuals who have been prohibited from accessing ...