Currency Fraud Network Disbanded in Iran
TEHRAN (Tasnim) – Iran’s Intelligence Ministry nabbed members of a network that has been receiving huge sums of subsidized foreign currency from local banks under the guise of importing basic commodities.
In a statement on Monday, the Intelligence Ministry said its forces in the province of Kurdistan have arrested 11 main elements of a network of economic corrupts and people involved in the misuse of foreign currency distributed with government subsidy.
While Iran is experiencing delicate economic conditions and the use of currency resources should come under careful scrutiny, members of the fraudulent network received subsidized foreign currency the equivalent of 47,000 billion rials from banks under the guise of importing basic commodities, but invested the fortune in foreign countries, the statement added.
The Intelligence Ministry said the network received the currency with the business certificates of sham companies, with forged invoices for the import of basic commodities, and by paying bribes.
Last week, the Intelligence Ministry arrested members of a major network that had swindled the country’s banks out of millions of euros by infiltrating into the banking system.
