The 'Coin Sultan' and His Accomplice Executed

The Tehran Public and Revolutionary Prosecutor's Office announced that following the confirmation of the death sentence by the Supreme Court, Vahid Malzoumin, known as the 'Coin Sultan', and Mohammad Ismail Qasemi were executed in Tehran on Wednesday morning, November 23. According to the Tehran Revolutionary Prosecutor's Office, they were sentenced to death 'for the crime of corruption on earth through the formation of a corruption network, disrupting the economic, currency, and monetary system of the country, by conducting illegal and unauthorized transactions and large-scale currency and coin smuggling.' The title 'Coin Sultan' was first used by the Chief of Police of Greater Tehran when announcing the arrest of Vahid Malzoumin in mid-July. Hossein Rahimi, the commander of Tehran's police, reported on July 13 the arrest of an individual who had 'collected about two tons of coins in ten months.' However, two weeks later, the spokesperson for the judiciary stated in a press conference that 'two tons of coins had not been discovered, but documents and evidence had been obtained showing that this individual and his son had traded more than two tons.' Mr. Qasemi was another person arrested in this case, and some media in Iran referred to him as the 'accomplice' of the Coin Sultan. Iranian news agencies reported, citing the Tehran Public and Revolutionary Prosecutor's Office, that 'the 41st branch of the Supreme Court confirmed the death sentence issued for the defendants,' and the sentence 'was carried out in the early hours of Wednesday, November 23, 2018, in the presence of a group in Tehran.' Vahid Malzoumin was executed while there are no restrictions in Iranian laws regarding the amount of coins and currency that can be bought and sold. The Central Bank and the government of Hassan Rouhani, as well as the judiciary, had not announced any restrictions on the buying and selling of coins. Gholamhossein Esmaili, the head of the Tehran judiciary, had announced on November 17 that preparations for the execution of the death sentence for these two had been made and stated that 'this sentence would be executed within less than a month.' The first deputy and spokesperson of the judiciary had stated in late October that the death sentences for Mr. Malzoumin and Qasemi, two coin sellers, for the charge of 'corruption on earth', had been confirmed by the Supreme Court. According to the judiciary spokesperson, it took only 43 days from the formation of the case for him and Mr. Qasemi until the confirmation of the sentence. The Tehran Public and Revolutionary Prosecutor's Office stated in a statement published on Wednesday that based on 'investigations', it was determined that 'Vahid Malzoumin's network was one of the most effective illegal actors in the currency and coin market.' According to this statement, 'one of the features of this group's criminal activity was the unrealistic and merely verbal exchange of currency and coin prices, which played a significant role in price increases.' In recent months, the leader of the Islamic Republic and judicial officials have made threatening statements regarding individuals arrested in economic and financial cases. Ayatollah Ali Khamenei, the leader of the Islamic Republic, agreed at the end of August with the proposal of the head of the judiciary to form a special court with three revolutionary court judges to address the cases of 'economic corruptors.' Sadegh Larijani, the head of the judiciary, also stated a month later that the agency under his supervision, despite having 'limitations', would 'not observe any imaginary red lines.' Many analysts and economic experts have warned that 'security confrontations', while they may prevent the increase in currency or coin prices in the short term, will have no long-term effect; just as, despite 'security confrontations in the previous government', currency and coin prices continued to rise. After Donald Trump, the President of the United States, withdrew from the 'JCPOA' and reinstated sanctions on Tehran, the Iranian economy experienced turmoil. The prices of coins and currency suddenly and sharply increased, and concerns about rising inflation, widespread unemployment, and reduced purchasing power of the people are evident. This is while the President of Iran, without providing evidence and documentation, stated that people have 'more hope than before' after November 4 and the complete return of US sanctions.