Even Iran Knows How To Fix The Corrupt Banker Problem

Tyler Durden's picture


Having watched Tim Geithner's disgusting defense of the tax-payer-backed re-inflation of a corrupt and knowingly devastating banking system on Jon Stewart's Daily Show, and watching the US fine (no jail time for anyone) a Swiss bank which admits its guilt over billions of fraud yet allow them to remain a prime dealer of US Treasuries; we thought the following story from a '3rd world banking system' would open a few eyes in the US this weekend as 'we remember'. As AP reports, a billionaire businessman at the heart of a $2.6 billion state bank scam in Iran, the largest fraud case since the country's 1979 Islamic Revolution, was executed Saturday, state television reported.


As AP reports,

A billionaire businessman at the heart of a $2.6 billion state bank scam in Iran, the largest fraud case since the country's 1979 Islamic Revolution, was executed Saturday, state television reported.


Authorities put Mahafarid Amir Khosravi, also known as Amir Mansour Aria, to death at Evin prison, just north of the capital, Tehran, the TV reported. The report said the execution came after Iran's Supreme Court upheld his death sentence.


Khosravi's lawyer, Gholam Ali Riahi, was quoted by news website khabaronline.ir as saying that the death sentence was carried out without him being given any notice. Death sentences in Iran are usually carried out by hanging.


"I had not been informed about the execution of my client," Riahi said. "All the assets of my client are at the disposal of the prosecutor's office."


State officials did not immediately comment on Riahi's claim.


The fraud involved using forged documents to get credit at one of Iran's top financial institutions, Bank Saderat, to purchase assets including state-owned companies like major steel producer Khuzestan Steel Co.


Khosravi's business empire included more than 35 companies from mineral water production to a football club and meat imports from Brazil. According to Iranian media reports, the bank fraud began in 2007.


A total of 39 defendants were convicted in the case. Four received death sentences, two got life sentences and the rest received sentences of up to 25 years in prison.


The trials raised questions about corruption at senior levels in Iran's tightly controlled economy during the administration of former President Mahmoud Ahmadinejad.


Mahmoud Reza Khavari, a former head of Bank Melli, another major Iranian bank, escaped to Canada in 2011 after he resigned over the case. He faces charges over the case in Iran and remains on the Islamic Republic's wanted list. Khavari previously admitted that his bank partially was involved in the fraud, but has maintained his innocence.

What happens in American when the stock 'market' falls? When it becomes clear that all this money-printing has done nothing 'real'... and the middle-class finally realizes what the central planners are up to...? For sure, until then, no billionaires are going to jail, let alone being executed... in America - the land of the consequence-free...

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Sat, 05/24/2014 - 20:02 | 4792149 Schmuck Raker
Schmuck Raker's picture

I wouldn't have guessed such a backward state even had nail-guns.

Sat, 05/24/2014 - 20:10 | 4792169 The Old Man
The Old Man's picture

Why bother with nail guns when you've got rope and swords handy. They are Persians btw....

Sat, 05/24/2014 - 20:16 | 4792174 Keyser
Keyser's picture

I hope Jamie Dimon is paying attention... 


Sat, 05/24/2014 - 20:35 | 4792220 daveO
daveO's picture

No doubt he did. He started writing more campaign donation checks.

Sat, 05/24/2014 - 22:03 | 4792408 Troll Magnet
Troll Magnet's picture

This is why we should bomb bomb bomb Iran.

Sat, 05/24/2014 - 22:46 | 4792483 xtop23
xtop23's picture

Orrrrrr... is it why we should send them a nice gift basket and thank you card?

Sun, 05/25/2014 - 08:47 | 4792952 espirit
espirit's picture

Hemp rope is a renewable resource.

Sun, 05/25/2014 - 09:06 | 4792969 J S Bach
J S Bach's picture

Iran's attitude toward bankers and usury in general is precisely why they are targeted for destruction by our money masters.  The monsters who lord over us must have the whole world or nothing... it is written in their book.  Kudos to Iran for meting out justice.

Sat, 05/24/2014 - 23:33 | 4792569 TheFourthStooge-ing
TheFourthStooge-ing's picture

If by "we should bomb bomb bomb Iran" you mean "Vichy DC must be cleansed by fire" then I think you might be on to something.

Sun, 05/25/2014 - 03:27 | 4792802 Oracle 911
Oracle 911's picture

You forgot put this signature:

"The ruling oligarchy of USA."

And yes I junked you, just because of that.

Sun, 05/25/2014 - 04:06 | 4792826 Lost My Shorts
Lost My Shorts's picture

I would quibble with your verb tense.  "Will" not should.  Must stomp out those barbaric, eeevil mudholes that hold bankers accountable for their crimes.

Sun, 05/25/2014 - 10:20 | 4793090 TruthHunter
TruthHunter's picture

"This is why we should bomb bomb bomb Iran."

Not why we should, but why we probably will.

Sun, 05/25/2014 - 09:42 | 4793024 Eugend66
Eugend66's picture

"To tell a lie is considered by them the greatest disgrace, and next to that to be in debt… especially because they think that one in debt must of necessity tell lies." - Herodotus re  persians.

Sun, 05/25/2014 - 10:01 | 4793050 sessinpo
sessinpo's picture

Keyser      I hope Jamie Dimon is paying attention...


And I hope you and other ZHs are.  This is a regime that could be your own one day. Not to defend bankers or corruption, but we (you) face a future with a government that has a monopoly on legalized terror and armed force. Now the government controls the assets. Who's to say your property won't be confiscated for the good of society one day (Eminant Domain anyone)?

I see so much trash talk about bankers and oligarchs. That is to easy. It is the government that profits, partners and creates these situations.

Sun, 05/25/2014 - 10:27 | 4793103 RaceToTheBottom
RaceToTheBottom's picture

You talk as if there is a difference between Banksters and Government.

The only difference is the speed of payment for ill gotten gains.
Banksters get paid quick, Government Banksters get paid after they leave service.

Sun, 05/25/2014 - 17:00 | 4793887 Monty Burns
Monty Burns's picture

And don't confuse 'government' with the corrupt posturing clowns who supposedly represent us.  Government is the Real And Permanent one that rules without reference to anyone.

Sat, 05/24/2014 - 20:30 | 4792206 Joebloinvestor
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They also didn't have to look very far for a carpet to roll up the body in.

Sat, 05/24/2014 - 20:42 | 4792243 813kml
813kml's picture

Blood stains increase a Persian rug's value, more authenticity.

Sat, 05/24/2014 - 22:40 | 4792471 Idaho potato head
Idaho potato head's picture

Exactly so.

Sun, 05/25/2014 - 00:44 | 4792661 August
August's picture

Persians are creepy.  I saw 300.

Sun, 05/25/2014 - 08:49 | 4792953 espirit
espirit's picture

I dunno, Spartans creeped me out.

Sun, 05/25/2014 - 02:58 | 4792779 q99x2
q99x2's picture

Some of them can't wait for executino?

Hertz, a partner at Debevoise & Plimpton, leapt to his death from his 22nd-floor apartment on Central Park West in New York on May 16, according to police.
Read more at http://www.maxkeiser.com/#pBCco9fJ5Lkq4q1J.99

A lot to be thankful this week.

Sat, 05/24/2014 - 20:11 | 4792170 remain calm
remain calm's picture

Bernanke, I see you.

Sat, 05/24/2014 - 20:17 | 4792176 Keyser
Keyser's picture

Have you ever actually been to Iran to form such an opinion or are you just winging it? 


Sat, 05/24/2014 - 21:13 | 4792302 john39
john39's picture

zog party line.

Tue, 05/27/2014 - 03:06 | 4797599 Schmuck Raker
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I wasn't fast enough with the /Sarc, or /Irony. ;)

This article isn't here on ZH as a commentary on Iran.

Sat, 05/24/2014 - 21:58 | 4792393 Remington IV
Remington IV's picture

Guess they didn't use the Oklahoma botched execution handbook

Sun, 05/25/2014 - 15:14 | 4793697 Freddie
Freddie's picture

I thought I read something somewhere that one guy who is a politician in Iran controls a bunch of companies.  A cross between Harry Reid and Buffet.   He skims off of everything.   It is not this guy.

Hopefully, Jon Corzine will be free one day.

Sat, 05/24/2014 - 20:03 | 4792154 localsavage
localsavage's picture

Still got off too easy

Sat, 05/24/2014 - 20:04 | 4792157 logicalman
logicalman's picture

Hang a banker a day until the rest improve.

I think it was Ken Livingstone who said it - apologies, Ken, if I'm wrong.


Sat, 05/24/2014 - 20:25 | 4792196 VAD
VAD's picture

That might be the BEST.  IDEA.  EVAR.

Sat, 05/24/2014 - 20:52 | 4792259 TheFourthStooge-ing
TheFourthStooge-ing's picture

Another good idea, this one from Russia:

"Lower House approves ‘none of the above’ option for municipal polls"


Sat, 05/24/2014 - 21:05 | 4792284 cowdiddly
cowdiddly's picture

Shoot the first one, Word gets around.

Sun, 05/25/2014 - 08:50 | 4792954 espirit
espirit's picture

What gauge nail would you recommend?

Sat, 05/24/2014 - 21:11 | 4792296 COSMOS
COSMOS's picture

You know same thing with those GM execs who did the calcuations and figured paying settlements for fatal car accidents are cheaper than doing recalls.

I am quite shocked that no murder charges have been filed against the Execs in the know at GM.  All they got was a congressional BS hearing lol.

The lack of prosecutions in this country of criminal behavior by large corporations is stunning to say the least.

Sat, 05/24/2014 - 21:41 | 4792357 NidStyles
NidStyles's picture

Why should there be hearings? The families are the victims not the taxpayers. 


Quit making me pay for the crimes of others, let them pay for their own crimes.

Sun, 05/25/2014 - 10:48 | 4793159 jerry_theking_lawler
jerry_theking_lawler's picture

But, But, Corporations are 'people'....so why can't they go to jail.....or vote?

Sat, 05/24/2014 - 20:05 | 4792161 The Old Man
The Old Man's picture

Ahhhh.... I love the smell of rotten bankers in the morning!!!!

Sat, 05/24/2014 - 20:14 | 4792172 williambanzai7
williambanzai7's picture

Did they give him a 21 nail salute?

Sat, 05/24/2014 - 20:46 | 4792251 Chandos
Chandos's picture

Did they give him a 21 nail salute?


Probably not...their whole legal system is a fars....

Sat, 05/24/2014 - 20:52 | 4792253 Dr. Engali
Dr. Engali's picture

Our legal system on the other hand ensures that justice is served equally to all no matter what their social status or ethnicity is. At least that's what the thought me in skool.

Sat, 05/24/2014 - 21:12 | 4792299 NoDebt
NoDebt's picture

1976 just called.  They want their social studies textbook back.

Sat, 05/24/2014 - 21:21 | 4792317 El Vaquero
El Vaquero's picture

"Justice" can be had in the US.  You have to be in the right district, and be willing to fight tooth and nail for it, but it can still be had.  And by fight tooth and nail, in an instance when you are accused, you have to have a pretty damned good idea of how the system works, and you have to be willing to do the equivalent of not swerving in a game of chicken.  One thing that a crooked or lazy DA hates to hear when they have overcharged a person (i.e. 7 felonies when the probable cause supports an arrest for 1 misdemeanor, but not really, but some cop decided it did, and he has an IQ of 70 and the mentality of a baboon) and are angling for a plea bargain is "trial, motherfuckers."  There are a lot of instances where cops don't do a real investigation these days.  A lot of the time, they'll make a snap judgement, and the DA will back their play by overcharging the person and then using the threat of years or decades to get the person to plea down to a minor charge.  WTF are you going to do if they may or may not have the evidence to convict you of a crime that you could spend 6 months in jail for, but they're coming at you full bore claiming that you can be put away for decades?

Sat, 05/24/2014 - 22:53 | 4792499 JLee2027
JLee2027's picture

Been there, done that. Many times it's a load of BS they throw at you. They are lazy bullies and just want you to give in. 

I went to trial and got acquited. There wasn't a shred of evidence against me. NOTHING BUT AN ACCUSATION. But the crap they threw at me before trial was beyond belief. 


It's become a terrible system. If you are convicted at trial, they will throw the book at you, because you actually forced them to work. American Justice is dead. For now.


Sun, 05/25/2014 - 10:30 | 4793110 TruthHunter
TruthHunter's picture

El Vaquero "Justice"

 The problem is its impossible to convict a rogue DA, and you can't

even get them fired.


Sun, 05/25/2014 - 20:24 | 4794269 effendi
effendi's picture

You forgot the biggest thing you need to fight for justice. MONEY. I know a guy who took a plea bargain to avoid doing time (but still has a conviction that limits his employment options for life). He had a good chance of being found Not Guilty but couldn't risk the possibility that the overcharge would triumph in court (with a few years inside) and he couldn't afford the $100,000 cash up front to pay for a proper legal defence.

Sat, 05/24/2014 - 20:54 | 4792263 TheFourthStooge-ing
TheFourthStooge-ing's picture

I si what you did there.

Sat, 05/24/2014 - 21:07 | 4792285 caShOnlY
caShOnlY's picture

Probably not...their whole legal system is a fars....

OK, HONDO, what legal system are you using as a guage? shall we all guess? is it the one you have been indoctrinated educated inducted into?

Sat, 05/24/2014 - 21:13 | 4792303 El Vaquero
El Vaquero's picture

(Pssst, what language do they speak?)

Sat, 05/24/2014 - 21:17 | 4792313 Telemakhos
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