Iran Executes Two Men For Hoarding 2 Tons Of Gold Coins

Iran has executed two men accused of hoarding gold coins to manipulate the market price

TEHRAN, (APP - UrduPoint / Pakistan Point News - 15th Nov, 2018 ) :Iran has executed two men accused of hoarding gold coins to manipulate the market price.

Vahid Mazloumin -- a gold dealer known as the Sultan of Coins -- and his assistant, Mohammad Esmail Qassemi, were hanged after being sentenced to death in October for forming an illegal gold trading network with the aim of increasing prices.

Ultimately Mazloumin and his team amassed 2 tons of gold coins to resell on the market at higher prices.

He was arrested in July for operating as a speculator and Qassemi was also arrested on charges of spreading corruption for his role in the operation.

Iran's Supreme Leader Ayatollah Ali Khamenei approved a judicial request in August establishing a special court for those suspected of financial crimes, which has since sentenced several people to death.

Police in Tehran said about 130 illegal Currency traders had been arrested within the past few days.

The country has sought to send a message to merchants not to exploit its market while its economy has been hampered by sanctions imposed by the United States.

Khamenei said Iran can solve its economic problems by correctly using its domestic resources.