Tehran Judiciary: CEO of Thamen Al-Hojjaj Sentenced to Long-Term Imprisonment

The Chief Justice of Tehran stated that the CEO of the Thamen Al-Hojjaj Institute has been sentenced to long-term imprisonment, and the verdict for two other defendants in the case has also been issued. According to Tasnim News Agency, Gholamhossein Esmaeili said on Saturday, August 27, that due to legal restrictions, he cannot disclose the details of the verdict, only mentioning that 'the CEO of this institute has been sentenced to long-term imprisonment.' Abolfazl Mirali, the director of the Thamen Al-Hojjaj financial institute and the son-in-law of the former Friday prayer leader of Sabzevar, was not named by the Chief Justice of Tehran while announcing the news of his imprisonment. The Thamen Al-Hojjaj financial institute began its activities in 2001 under the title 'Thamen Al-Hojjaj Cooperative of Graduates' and went bankrupt due to investments in the housing market and a recession in that market. Following months of protests by the victims of this financial institute, Iranian media reported in July of this year that Abolfazl Mirali, who was free on bail, was arrested and his bail was increased to 4 trillion tomans. Rababeh Ebrahimi and Mehdi Ramazani are the second and third defendants in this case, respectively. Rababeh Ebrahimi is the wife of Abolfazl Mirali and the daughter of Gholamhossein Ebrahimi, the former Friday prayer leader of Sabzevar. Mehdi Ramazani, another defendant in this case, is the brother of Ahmad Ramazani, one of the major investors and traders, and indeed the initial supporter of the Thamen Al-Hojjaj institute. ISNA reported on August 27 that these individuals were referred to by pseudonyms and mentioned that 'R.A.' (Rababeh Amiri) is currently free on bail. ISNA states that the main charge against the defendants in this case is 'disruption of the country's economic system in a deliberate manner without the intent to overthrow the regime through collecting deposits from the people.' An 'informed source' told ISNA that the deficit of the Thamen Al-Hojjaj financial and credit institute is 3 trillion and 990 billion tomans. According to judicial officials, this case has about 370 plaintiffs, and 'approximately 12 trillion tomans of financial misconduct' has occurred. Earlier, Ahmad Tavakoli, a representative of the ninth parliament, stated that most of the loan recipients from the bankrupt Thamen Al-Hojjaj financial institute are experienced judges and children of prominent clerics and political figures. He added that 'the CEO of the Thamen Al-Hojjaj financial institute has significant influence and even obtained the arrest warrant for Mr. Bahmani, the former head of the Central Bank in the previous government.'