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Iran Uncovers Biggest Financial Scam Ever

19 arrested for alleged role in $2.6B bank fraud

By Mark Russell,  Newser Staff

Posted Sep 19, 2011 9:22 AM CDT

(Newser) – Iran has arrested 19 people suspected of being involved in a $2.6 billion bank fraud scheme that is considered the largest in the country's history, reports the AP. Prosecutors say that more arrests are coming. The fraudsters allegedly used forged documents to get credit at a leading financial institution, which was then used to buy state-owned companies and other assets. Iran's parliament summoned the finance minister and governor of the central bank today to talk about the scam.

A picture taken on April 11, 2011 shows Iran's biggest dimonimation currencies, 100000 Rials (8.9 US dollars) and 50000 Rials (4.45 US dollars) in Tehran.
A picture taken on April 11, 2011 shows Iran's biggest dimonimation currencies, 100000 Rials (8.9 US dollars) and 50000 Rials (4.45 US dollars) in Tehran.   (Getty Images)
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COMMENTS
Showing 3 of 8 comments
Kookey90
Sep 19, 2011 11:59 PM CDT
Does this mean that in accordance with Islamic Law that if convicted, the schemers will have their hands chopped off, or worse yet their necks?
yorkshire
Sep 19, 2011 10:21 AM CDT
Stealing off Iran,oops,bet they don't regret that much right now,got a feeling there won't be no duck feathers in their quilts where their sleeping tonight
genghisKhanifer
Sep 19, 2011 10:09 AM CDT
$2.6 billion? Amateurs..

 
Iran • scam • bank fraud

 
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