Coin Sultan Executed Alongside His ‘Accomplice’

The Tehran Public and Revolutionary Prosecutor’s Office says that following confirmation of the sentence by the Supreme Court, Vahid Mazloumian, known as the “Coin Sultan,” and Mohammad Esmail Ghassemi were executed on Wednesday morning, November 14, in Tehran.

According to the Tehran Revolutionary Prosecutor’s Office, they “were sentenced to death for corruption on earth through the formation of a corruption network, disrupting the country’s economic, currency and monetary system, through illegal and unauthorized transactions and large-scale currency and coin smuggling.”

The title “Coin Sultan” was first used by the Tehran Police Commander when announcing the arrest of Vahid Mazloumian in mid-July.

Hossein Rahimi, commander of the Tehran Police Force, announced on July 3 the arrest of an individual who had “collected approximately two tons of coins” in a ten-month period.

However, two weeks later, the Judiciary Spokesman at a press conference said that “two tons of coins were not discovered from this person, but documents and evidence obtained showed that this person and his son bought and sold more than two tons.”

Mr. Ghassemi was another individual arrested in this case, and some Iranian media outlets have referred to him as the “accomplice” of the Coin Sultan.

Iranian news agencies, citing the Tehran Public and Revolutionary Prosecutor’s Office, state that “the 41st branch of the Supreme Court, after reviewing the verdict issued regarding the accused, confirmed the death sentence,” and the sentence “was carried out on the morning of Wednesday, November 14, 1397, in the presence of a group in Tehran.”

Vahid Mazloumian was executed despite the fact that Iranian law has set no restrictions or limitations on the amount of coins and currency that can be bought and sold.

The Central Bank, the Rouhani government, and the judiciary had not announced any restrictions on buying and selling coins.

Gholamhossein Esmaili, head of the Tehran Province Judiciary, announced on November 5 that preparations had begun for executing the death sentences of these two individuals and said “this sentence would be carried out within less than a month.”

The First Deputy and Spokesman of the Judiciary said in late September that the death sentences of Mr. Mazloumian and Ghassemi, two coin sellers, convicted of “corruption on earth,” had been confirmed by the Supreme Court.

As the Judiciary Spokesman stated, from the time the case was opened for him and Mr. Ghassemi until the sentence was confirmed, only 43 days had elapsed.

The Tehran Public and Revolutionary Prosecutor’s Office, in a statement released on Wednesday, says that based on “investigations,” it was determined that “Vahid Mazloumian’s network was one of the most influential illegal actors in the currency and coin market.” According to this statement, “among the characteristics of this group’s criminal activity was the false and purely 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, approved the proposal by the Judiciary Chief in late August to establish a special court with the presence of three Revolutionary Court judges to review cases of “economic corruption.” Sadegh Larijani, the Judiciary Chief, a month later said that his organization, despite the “limitations” it faces, would not observe any “imaginary red lines.”

Many economic analysts and experts have warned that “security approaches,” while potentially preventing currency and coin price increases in the short term, will have no effect in the long term; just as despite “security approaches under the previous government,” currency and coin prices continued to rise.

After U.S. President Donald Trump withdrew from the JCPOA and reinstated sanctions on Tehran, Iran’s economy faced turmoil.

Coin and currency prices increased suddenly and severely, and concerns about inflation, widespread unemployment, or reduced purchasing power are evident.

This is while Iran’s president, without providing evidence or documentation, claimed that after November 4 and the complete reinstatement of American sanctions, people have “become more hopeful than before.”

Source: Radio Farda