Shahram Jazayeri Arrested on Charges of 'Conspiracy to Act Against Public Security'

Reports indicate that Shahram Jazayeri, an Iranian businessman who traveled to Mashhad to speak about the Padideh company, has been arrested on charges of 'conspiracy to act against public security.' According to Khorasan, Jazayeri was scheduled to speak at a conference titled 'Examining the Challenges Facing the Padideh Company in Entering the Over-the-Counter Market and Securing Liquidity.' Following the arrest of Mohsen Pahlevan, the former CEO of Padideh, on charges of 'fraud through the illegal sale of shares,' promotional activities for this conference featuring Jazayeri had taken place. Reports indicate that early Saturday morning, coinciding with the start of the conference, Jazayeri was arrested under a judicial order for conspiracy to act against public security by disrupting order and disturbing public peace. Khorasan has reported that Jazayeri is currently in the custody of law enforcement for investigations. Jazayeri, a figure implicated in economic corruption in Iran, was released from prison in October 2014 after serving an 11-year sentence. Iranian media reports indicate that he resumed his economic activities after his release. Khorasan also reported that rumors had circulated on social media regarding the transfer of management of the Padideh company to Jazayeri. The Padideh Shandiz company, registered in February 2005, was involved in developing construction projects in Shandiz, near Mashhad. The company later began selling its shares, which rapidly increased in value. However, in January 2015, judicial authorities in Mashhad announced that the sale of Padideh Shandiz shares was prohibited and sales offices were sealed. Gholamali Sadeqi, the judge in this case, stated at that time, 'Due to the so-called ballooning and illegal increases in shares, billions of rials have been exchanged, which definitely requires transparency so that no one becomes a billionaire overnight.' Following allegations regarding land use changes and the manner of share transactions for this company, many shareholders of Padideh Shandiz attempted to sell their shares. It is said that the company issued vouchers to some shareholders, but due to the high volume of shareholder requests, the company could not fulfill its obligations. Alireza Rashidian, the then-governor of Khorasan Razavi, stated last year that based on audits conducted, the total debt of the Padideh company is 84 trillion rials. In this context, Mohsen Pahlevan, the CEO of 'Padideh Shandiz,' was arrested.