Iran jailed for 10 years for corruption in Central Bank

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Iran jailed for 10 years for corruption in Central Bank

Philip Hammond, Governor of the Central Bank of Iran, waits to begin meeting with the new Foreign Secretary of Britain at Tehran, Iran August 23, 2015. REUTERS Darren Staples Darren Staples :

Oct 16 Reuters - A former governor of Iran Central Bank, Valiollah Seif, was sentenced to 10 years in prison on Saturday for corruption charges involving the mismanagement of millions of dollars, the judiciary said.

Seif and two of his deputies, who also received jail terms, were found guilty of disturbing the foreign exchange market, the country's economic climate and mismanagement, a judiciary spokesman was quoted as saying by state media.

State TV said Seif and one of his deputies, Salar Aghakhani, sentenced to eight years in jail, had provided illegal conditions for the mismanagement of about $160 million and 20 millions euros Another deputy, Ahmad Araghchi was sentenced to 13 years.

From 2013 to 2018 Seif led the Central Bank in Hassan Rouahni's Administration. In 2018, the U.S. Treasury Department under sanctions put Seif for helping transfer millions of dollars to Iran-supported Lebanese group Hezbollah.