Iran Sentences Banker Criminals To Death Penalty

By on August 1, 2012 in News 10

Perhaps this is one instance in which we could learn something from Ahmadinejad and company? Via the BBC:

Four people have been sentenced to death for their roles in Iran’s biggest-ever bank fraud scandal. Two other defendants received life sentences, while 33 more will spend up to 25 years in jail, the chief prosecutor was quoted as saying. The scandal involved forged documents reportedly used by an investment company to secure loans worth $2.6bn.

The case broke in September 2011 when an investment firm was accused of forging documents to obtain credit from at least seven Iranian banks over a four-year period. The money was reportedly used to buy state-owned companies under the government’s privatisation scheme.

As part of their probe, authorities froze the assets of an Iranian businessman thought to be the mastermind behind the scam. The BBC’s Sebastian Usher said the firm at the heart of the scandal had moved from a small start-up capital to being worth billions of dollars.

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  • Jesus Borg

    Wonder why the “authorities” in Iran vis a vis the US actually have authority over Banksters?

  • Calypso_1

    Now they’ve done it.  Here come JDAMs.

  • Anahata

    China is doing the same thing–putting financial fraudsters to death. If the US is going to have a death penalty, this is what it should be used for.

  • Radii

    Start by executing Ahmadinejad, Khamenei and the supreme court. Then worry about economic crimes. And no.

  • MoralDrift

    I disagree…its totally over the top…why is there such a lack of creativity in punishment? Why not strip them of the ability to work in that field and through a combination of fines force them into a life of poverty? Then they can work or find pity.

    • Mike10

       Yeah, death penalty seems too easy.  These fucked-up countries have it right when it comes to justice.  A life of hard labor seems more fitting.  Our politicians talk tough about punishing fraud, but nothing ever gets done.

    • Joseph

      Because the next guy thinking about defrauding the government/investors/the public is instead going to say “nah…fuck that shit!”

      • Liam_McGonagle

        I don’t think so.  The death penalty hasn’t shown too much effectiveness as a deterent for any crime in the U.S.

        For the obvious reason that no one really believes that they’re going to get caught.

        You could make the argument that violent crime is fundamentally different, since it’s typically committed in a highly emotionally charged atmosphere that precludes the type of considered calculations believed to underly white collar crimes.  But it’d be a hard argument to win, because when you look at it, most white collar crimes are not really all that sophisticated–they’re often about simple, straight-up lies.

        In any case, any country whose administration is opaque enough to be comfortable imposing the death penalty is almost certainly corrupt enough to allow for some successful bribery.  Potential criminals won’t be disincentivised from crime as much as be encouraged to bribe the right people.

      • Wanted

        Its not like all the money is gone. Killing is over the top and should be used only for legit self defense in a situation that calls for action. I would make them work building homes for the less fortunate and maybe make them eat a super hot pepper with no drinks once a week, a ghost chili or something hotter like moruga scorpion butch T chili some of the hottest in the world, maybe once a day if they are not pleasant or suck at construction . 

  • http://buzzcoastin.posterous.com BuzzCoastin

    theft and larceny are two of the most common
    effects of money on human consciousness
    (the love of money is the root of all evil)

    anyone given the opportunity to steal large sums of money, will
    only inhibited by fear of getting caught
    and most times, not even that

    instead of killing them
    they should be sent to GITMO
    it’s a win-win