Sun Jul 15, 2012 9:17PM
Iran Big Fraud Trial Ends. People will hear about the fate of defendants for whom the bill of indictment have been issued in the biggest fraud case in Iran’s history. There are more than a hundred people arrested in this case out of which thirty nine bills of indictment have been issued up to now. The last three defendants for whom a bill of indictment was issued defended themselves in the fifteenth court session, held in Tehran. The lawyers in previous sessions had stated that the people put on trial here had created many jobs and the judge started the session by answering them. Then the judge explained to the defendants what they were charged with. The defendants did not accept the charges and defended themselves. Some of the defendants have been charged with crimes such as Corruption on Earth which can be punishable by death. Iranians have become sensitive on the issue and follow it closely. The first session of Iran’s big fraud trial was held on February 21, 2012. Around three billion dollars were taken out of Iran’s banking system using fraudulent letters of credit. The Letters of Credit were cashed by banks without necessary documents and in the absence of any collateral or goods involved.