Politics spill into banking
The integrated elite in Iran often makes it difficult to distinguish between politics and banking. Is this, as suggested by the Associated Press article, politics spilling over into banking and law enforcement? Might it be that the accused "mega-tycoon" was in competition with somebody's "favorite" bonyad (religious foundation)?Iran Probes 'Unpredcedented' Bank Fraud Network
Iranian regulators have blocked the assets of a mega-tycoon accused of masterminding a $2.6 billion bank fraud described as the biggest financial corruption scam in Iran's history, state media reported Monday.
The probe also could spill over into Iran's internal power struggles between President Mahmoud Ahmadinejad and the ruling clerics. The suspect — identified by the hard-line Kayhan newspaper as billionaire mogul Amir-Mansour Aria — is seen as linked to the so-called "deviant current" of Ahmadinejad allies who are facing arrests and crackdowns by Iran's leadership…
Aria's business empire includes more than 35 companies from mineral water production to a football club and meat imports from Brazil. Calls to his office for comment were not immediately returned Monday.
The newspaper Kayhan, which often reflects the views of Iran's ruling clerics, said Aria had links with Ahmadinejad's top ally, Esfandiar Rahim Mashaei. Conservatives accuse Mashaei and others of trying to challenge the authority of Iran's theocracy…
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Labels: economics, Iran, leadership, politics, transparency
posted by Ken Wedding @ 6:56 AM
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