12 People Arrested in Relation to the '12 Trillion Toman Case'

Yadollah Mohammadi, the Chief Justice of Kerman Province, told reporters on Wednesday, December 19, that 12 people have been arrested in connection with a new financial corruption case known as the '12 trillion toman case.' Among these 12 individuals, 8 have been sent to prison, while four have been released on bail. Ali Tayebnia, Iran's Minister of Economy, announced on December 15 the discovery of a new financial 'corruption' case, stating that this 12 trillion tomans resulted from the circulation of worthless interbank checks and some bank guarantees. According to the Minister of Economy, the judiciary's pursuit of this matter had already begun, and '100% of the amount has been returned to the bank.' According to ISNA news agency, Yadollah Mohammadi explained that the process involved a bank or fund needing a sum of money, requesting it from Bank Tejarat, and that amount being deposited through interbank checks, which were later returned after a few days. A total of 670 checks were issued in this manner, amounting to 12 trillion and 700 million tomans. This judicial official stated that the damages from this 'banking misconduct' amounted to '230 billion tomans.' IRNA news agency quoted the Chief Justice of Kerman Province as saying that investigations revealed the banking corruption case at this branch was broader than just the issuance of a few bank guarantees outside regulations. The Chief Justice noted that two of the accused were branch managers, while a group consisted of bank staff and clients who received the guarantees. This judicial official promised that the trial for this case would begin soon. Mr. Mohammadi also warned reporters about the dangers posed by the activities of a 'massive' number of 'unauthorized' and 'unregulated' financial institutions and credit funds. The latest report from Transparency International indicates that Iran ranks 136th in the 'Global Corruption Perceptions Index' among 175 countries and regions this year, although this ranking is an improvement compared to last year. During Mahmoud Ahmadinejad's presidency in 2009, Iran's 'corruption index' reached its worst state, falling to 168th globally. Mahmoud Alavi, Iran's Minister of Intelligence, reported on December 18 the discovery of financial violations by managers of Ahmadinejad's government and the arrest of 20 mid-level managers from that administration. In this context, Hassan Rouhani stated that the concentration of guns, money, and media in one institution leads to corruption. The Oil Minister claimed that Babak Zanjani embezzled 7 trillion tomans of the country's money. The arrest of 20 mid-level managers from Ahmadinejad's government was due to financial misconduct. Rouhani emphasized the need for transparency regarding corruption and the dangers ahead.