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Hamid Bagheri Damani; From Velayati's Election Headquarters to the Court of Economic Disruptors

Apr 30, 2026 April 30, 2026 4 min read 📰 Radio Farda
📋 Key Takeaway

Hamid Bagheri Damani has received a death sentence as part of a crackdown on economic disruptors in Iran, following years of allegations of fraud and embezzlement linked to high-profile political figures. His case reflects broader issues of corruption and the intertwining of politics and economics in Iran, especially amid the current economic crisis. This situation is significant as it highlights the government's approach to handling economic crimes and its implications for political stability.

🔍 Quick Context Guide
💡 Bottom Line: The execution of Hamid Bagheri Damani underscores the Iranian government's severe response to economic mismanagement.

👥 Key Players

Hamid Bagheri Damani (حمید باقری دامنی) TARGET
Economic defendant
"Bagheri Damani claims that at the age of 23, in 1992 and 1993, he owned a production unit."
Gholam Hossein Mohseni Ejei QUOTED
Judiciary spokesman
"Gholam Hossein Mohseni Ejei, the judiciary spokesman, announced without naming him that the company belonging to Bagheri Damani has 2000 billion tomans in bank debts."
Ali Akbar Velayati ACCUSED
Political figure
"Bagheri Damani had relationships with other political figures as well, including providing financial assistance to Ali Akbar Velayati's campaign."
Mahmoud Ahmadinejad QUOTED
Former President of Iran
"In 2013, a letter from Mahmoud Ahmadinejad and Esfandiar Rahim Mashaei was published, allowing him to pay his debts in installments."
Esfandiar Rahim Mashaei QUOTED
Former Vice President of Iran
"In 2013, a letter from Mahmoud Ahmadinejad and Esfandiar Rahim Mashaei was published, allowing him to pay his debts in installments."
Bijan Zanganeh QUOTED
Oil Minister
"Bijan Zanganeh, the oil minister, also spoke of a 400 billion toman case similar to that of Babak Zanjani."

⚡ Actions

Supreme Court EXECUTE Hamid Bagheri Damani
"The death sentence for Hamid Bagheri Damani is the third confirmed death sentence by the Supreme Court."
Confidence: 90%
Tehran judiciary INDICT Hamid Bagheri Damani
"Gholam Hossein Esmaeili, the head of the Tehran judiciary, indicated that this case has been sent for execution."
Confidence: 90%
Iranian government SANCTION Hamid Bagheri Damani
"Hamid Bagheri Damani has denied these accusations, including the debt to the Jam oil company."
Confidence: 80%

📰 What Happened

Hamid Bagheri Damani sentenced to death for economic disruption in Iran's currency market.

  • Supreme Court execute Hamid Bagheri Damani
  • Tehran judiciary indict Hamid Bagheri Damani
  • Iranian government sanction Hamid Bagheri Damani

💡 Why It Matters

🇮🇷 For Iran: Because it highlights the government's crackdown on economic disruptors amid a deteriorating economy.
🌍 Regional: Because it reflects the broader economic instability in Iran, which could affect regional relations.
🌐 International: Because it may impact foreign investment and relations with international financial institutions.

📚 Background

The execution of Hamid Bagheri Damani underscores the Iranian government's severe response to economic mismanagement.

📝 Key Evidence

"The death sentence for Hamid Bagheri Damani is the third confirmed death sentence by the Supreme Court."
→ This proves the severity of the judicial actions against economic disruptors.
"Hamid Bagheri Damani has denied these accusations, including the debt to the Jam oil company for receiving pitch."
→ This highlights the ongoing disputes regarding his financial dealings.
📡 Source: INDEPENDENT
📊 Confidence: 80%
Radio Farda is known for its critical stance towards the Iranian government.

The death sentence for Hamid Bagheri Damani is the third confirmed death sentence by the Supreme Court following the disruption of the currency market and the economic situation in the country. Although his case has been ongoing for several years, unlike that of Vahid Malekzadeh, the atmosphere surrounding these cases has led to him being dubbed the 'Tar Pitch King,' similar to how Malekzadeh was known as the 'Coin King.' Bagheri Damani claims that at the age of 23, in 1992 and 1993, he owned a production unit. However, despite being under 40, he has been identified as one of the major economic defendants. In 2013, a letter from Mahmoud Ahmadinejad and Esfandiar Rahim Mashaei was published, allowing him to pay his debts in installments. Amir Moghadam, the former head of public relations for the Executive Vice Presidency, wrote that Bagheri Damani's connections were not limited to Ahmadinejad's close associates and that he had relationships with other political figures as well, including providing financial assistance to Ali Akbar Velayati's campaign. The Tourism Bank, from which he has been accused of 'fraud and embezzlement,' was also established with the support of Mashaei and Beqaei, and Mehdi Jahangiri, the brother of Eshaq Jahangiri, was its founder. Bagheri Damani's name first emerged in 2007 with allegations of involvement in the misconduct of the Behzist Foundation and Behzist Petroleum. Shortly after, the Fars news agency reported that 'one of the main reasons' for Mohammad Reza Naqdi's resignation from the head of the Anti-Smuggling Goods and Currency Headquarters was 'the weak handling of the judiciary regarding smuggling cases, especially the case of the largest debtor in the banking system (Hamid Bagheri Damani).' The Anti-Smuggling Headquarters accused Bagheri Damani of 'launching extensive efforts to prevent the seizure of his smuggled goods by moving labels and cartons after the issuance of a ruling to confiscate goods and a fine of about 13 billion rials.' According to this headquarters, he 'claimed to establish a luxury car manufacturing factory for Benz and BMW in Garmsar and obtained a loan of 60 billion tomans while creating jobs for 1500 people,' and then turned this facility into a warehouse for smuggled goods. However, Bagheri Damani was released, but his case resurfaced after the deterioration of relations between Mahmoud Ahmadinejad and Ayatollah Khamenei and the attacks on the close associates of the then President of Iran. Reports indicate that Bagheri Damani's case has been ongoing since 2011. The Tabnak website reported in 2013 that Mahmoud Ahmadinejad had instructed the National and Sepah banks to allow the installment payment of Bagheri Damani's five-year arrears. According to this website, he 'received 1 billion and 115 million dollars in foreign currency facilities from banks and also received 100 million dollars from the foreign exchange reserve fund, which is the responsibility of domestic banks, and ... has not fulfilled any of his obligations to the banks.' In 2014, Gholam Hossein Mohseni Ejei, the judiciary spokesman, announced without naming him that the company belonging to Bagheri Damani 'has 2000 billion tomans in bank debts and also owes 330 billion tomans to another oil company.' This debt, claimed by the judiciary spokesman, relates to the purchase of pitch from the Jam oil company. Bijan Zanganeh, the oil minister, also spoke of a 400 billion toman case similar to that of Babak Zanjani, stating that an individual 'took a shipment of pitch without providing proper guarantees and has not paid for it.' Hamid Bagheri Damani has denied these accusations, including the debt to the Jam oil company for receiving pitch. He also stated that he has not engaged in financial activities since 2011 and that his assets have been seized during these years. Mahmoud Alizadeh Tabatabai, his lawyer, also stated that while his client is being treated 'like recent economic disruptors, he has been in prison since 2014 and is not related to recent events.' Nevertheless, Gholam Hossein Esmaeili, the head of the Tehran judiciary, indicated that this case has been sent for execution and is likely to be carried out quickly. In this context, Davood Abadi: An indictment has been issued for a petrochemical case worth three billion euros. The Tehran prosecutor: 1700 people have been summoned to special economic courts. 'The Coin King' and two other economic defendants have been sentenced to death. The fight against smuggling; two controversial cases and one resignation. Severe government repression and the danger of 'underground' protests. What doctors and eyewitnesses recount about the injured in the protests. The limitations of China-Iran relations becoming apparent amid protests.

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Translated from the original and edited for English readers. View original source →

Translation confidence: 85%

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