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Ex-Iran bank governor jailed 10 years over millions lost in foreign currency trading

Valiollah Seif’s deputy, meanwhile, gets 8-year prison term

Updated 4 years ago · Published on 16 Oct 2021 10:00PM

Ex-Iran bank governor jailed 10 years over millions lost in foreign currency trading

TEHRAN – A former governor of Iran’s central bank was today sentenced to 10 years’ jail over the loss of US$160 million (RM665.3 million) and €20 million (RM96.4 million) in foreign currency trading.

Valiollah Seif, who headed the monetary authority between 2013 and 2018, is the first Iranian central bank governor ever to be indicted.

The 69-year-old remains free pending an appeal.

The judiciary’s website said he repeatedly broke the law along with his deputy Ahmad Araghchi, who was handed an eight-year jail term.

A third senior figure at the bank, Rassoul Sajad, received a 13-year sentence for illegal foreign currency trading and taking bribes. – AFP, October 16, 2021

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