Babak Zanjani
| Babak Zanjani | |
|---|---|
Zanjani defending himself in the Islamic Revolutionary Court, November 2015
|
|
| Born |
Babak Morteza Zanjani 12 March 1974 Tehran, Iran |
| Nationality | Iranian |
| Occupation | Businessman |
| Net worth | 13.5 billion USD (self-claimed) |
| Criminal charge | Spreading corruption on earth |
| Criminal penalty | Death penalty |
| Criminal status | Awaiting trial |
|
Capture status
|
Arrested |
|
Date apprehended
|
2013 |
| Imprisoned at | Evin Prison |
Babak Morteza Zanjani (Persian: بابک مرتضی زنجانی, born 21 March 1974) is an Iranian billionaire and business magnate. He was the managing director of the UAE-based Sorinet Group, one of Iran's largest business conglomerates.
In late 2013, he was arrested and accused of withholding $2.7 billion of government money owned by the Ministry of Petroleum, in his attempts to facilitate Iran's oil revenue hindered by the sanctions against Iran.
Several commentators have stated that Zanjani is perhaps a “fall guy” for corruption scandals in Iran.
Sorinet Group (Persian: گروه شرکتهای سورینت) is an Iranian business conglomerate. The company is one of Iran's largest business conglomerates. Sorinet businesses include cosmetics, finance and banking, hospitality, commercial aviation, infrastructure, building material, information technology and international real estate development. It operates in countries including Iran, United Arab Emirates, Turkey, Tajikistan, Malaysia, China. He also owned Qeshm Airlines and Rah Ahan Sorinet F.C. in Iran.
In 2013, Zanjani stated that his net worth was $13.5 billion.
Zanjani was named in the restrictive measures against Iran in December 2012 by the EU council on the grounds of "assisting designated entities to violate the provisions of the EU regulation on Iran and is providing financial support to the government of Iran". Zanjani was claimed to be "a key facilitator for Iranian oil deals and transferring oil-related money". He denied the accusation, declining any ties with the Iranian government and calling the Europeans' decision "a mistake".
The EU sanctions against Iran describe Zanjani as "a key facilitator for Iranian oil deals and transferring oil related money" and accuses First Islamic Bank of being used to channel Iranian oil-related payments. Zanjani said the complex nature of his companies' transactions, involving large sums, might have misled EU authorities. Zanjani's companies are or may be involved in the Labuan Iran oil smuggling on the eastern coast of Malaysia. Labuan has been serving as a drop-off spot for Iranian crude.
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Wikipedia