Iran tightens noose on corrupt tycoons
Iran's judiciary is prosecuting individuals accused of corruption and embezzlement on a scale unheard of in the country.
The long arm of the Iranian law seems to be reaching individuals accused of misusing political connections for personal profit at a time when the economy is under severe strain due to mismanagement at home and reimposed US sanctions.
The latest in a series of "special trials" opened in the past year was that of Hossein Hedayati, also known among Iranians as the "ATM" of the country's soccer clubs. The business tycoon was handed a 20-year jail term and 70 lashes in public as well as a ban from public service and ordered to repay 4.88 trillion rials ($116.2 million) in loans he illegally received from Sarmayeh Bank, a private enterprise that has been posting enormous losses.
