December 26, 2016

Tehran’s prosecutor, Abbas Jafari Dowlatâbâdi, admitted that 500 billion Tomans ($15.5 million dollar) funds allocated to homeless has been stolen by the government officials. According to him, government officials have used the names of homeless people as the shareholders of front companies to receive millions of dollars funds allocated to the homeless.

“One of the Investment Bank offenses is issuing guarantees worth millions of dollars apparently for homeless such that 38 guarantees worth of 500 billion Tomans ($15.5 million dollars) has been issued to front companies and homeless people as the shareholders,” Dowlatâbâdi said.

Tehran’s prosecutor also revealed financial corruption of the regime officials plundering 8000 billion Tomans ($24.8 billion dollars) of the Teachers and Educators Reserve Fund.

According to Dowlatâbâdi, government officials plundered the fund by loaning half of it to only 10 people and by unrealistic assessment and illegal acquisition of properties. He said: “Of the $24.8 billion dollars Investment Bank’s loan, 10 people received $12.4 billion dollars and also former managers of Investment Bank, in their appraisal, assessed some properties fourteen times their actual price and possessed them.”


About Track Persia

Track PersiaTrack Persia is a Platform run by dedicated analysts who spend much of their time researching the Middle East, in due process we fall upon many indications of growing expansionary ambitions on the part of Iran in the MENA region and the wider Islamic world. These ambitions commonly increase tensions and undermine stability.