Iran Executes Gold Market's 'Sultan Of Coins'
Umer Jamshaid Published November 14, 2018 | 06:11 PM
Iran executed a trader on Wednesday dubbed the "Sultan of Coins" for his wholesale trafficking in gold to exploit a surge in demand from savers spooked by this year's currency crisis.
Vahid Mazloomin and accomplice Mohammad Esmail Ghasemi had been convicted of "corruption on earth" -- Iran's most serious capital offence -- by "forming and running a network for disrupting the economy", the judiciary's news agency Mizan online reported.
Police said Mazloomin had "amassed around two tonnes of gold coins" by the time of his arrest on July 2.
His network's transactions were reportedly in the hundreds of millions of Dollars.
"The octopus-like network disrupted the economy by buying, selling and smuggling foreign currency and gold coins," Mizan said.
Recent Stories
Rizwan’s batting order may be changed: Sources
Nawaz Sharif to visit Guangzhou exhibition in China
FM Dar not traveling to China: Foreign Office
PM takes notice of deliberate delay in tax cases
Iranian President visits Allama Iqbal’s mausoleum
Iranian President arrives in Lahore today
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 23 April 2024
Today Gold Rate in Pakistan 23 April 2024
Islam enlightened world with its teachings about knowledge: Dr Jamileh
Record London close as oil prices drop on easing Middle East fears
TV tower in Kharkiv struck as Russia captured village
LCCI language courses from May 1
More Stories From World
-
In Brazil, hopes to use AI to save wildlife from roadkill fate
45 minutes ago -
Taiwan hit by dozens of strong aftershocks from deadly quake
55 minutes ago -
Ambassador Hashmi visits Linyi city in Shandong province
1 hour ago -
Norway women bring seaweed to culinary heights in Europe
1 hour ago -
Ukrainian agriculture minister suspected in corruption scandal
2 hours ago -
China issues highest-level rainstorm warning after deadly floods
2 hours ago
-
London stock market hits record high
2 hours ago -
Five migrants die attempting Channel crossing: French police source
2 hours ago -
Migrant detentions set to begin after parliament passes UK-Rwanda plan
3 hours ago -
China slams US claims it is fuelling Ukraine war
3 hours ago -
More than 50,000 displaced by clashes in northern Ethiopia: UN
3 hours ago -
N. Korea's Kim oversees 'nuclear counterattack' drill
3 hours ago