'Sultan of coin' and his accomplice executed in Iran

'Sultan of Coins' Executed for Hoarding Tons of Gold

They had been sentenced to death by a special court set up in August to confront profiteering and corruption in the wake of new United States sanctions on Iran.

Iran executed a trader dubbed the "Sultan of Coins" and his accomplice on Wednesday for exploiting a surge in gold demand from savers spooked by this year's currency crisis.

The rial currency has lost about 70 percent of its value in 2018 under the threat of revived U.S. sanctions, with heavy demand for dollars and gold coins on the unofficial market from ordinary Iranians trying to protect their savings.

The 58-year-old Mazloumin was arrested in July for hoarding 2 tons of gold coins.

Amnesty International condemned the "abhorrent executions", saying Iranian authorities "flagrantly violated international law" by executing the men for non-lethal crimes.

The second man was part of Mazloumin's network and had been involved in the sale of gold coins, Mizan reported.

More news: Chilling Adventures of Sabrina's Christmas special coming to Netflix

Vahid Mazloumin and his accomplice Mohammad Esmaeil Qassemi were put to death in prison on Wednesday morning after the country's Supreme Court upheld their death sentences and the legal process was completed.

Many Iranians have stocked up on gold coins and other safe haven investments as the rial has plummeted this year to 135,000 to the dollar from last year's rate of around 40,500.

A second co-defendant, Hamid Bagheri-Dermani, was also accused of corruption and sentenced to death at the original trial.

The sanctions target Iran's purchase of USA dollars, its trade in gold and other precious metals as well as its automotive and aviation sectors.

"These men were convicted after a grossly unfair show trial that was broadcast on state television", he said, adding that worldwide law forbids the death penalty for non-lethal crimes.

The cost of living has also soared, provoking sporadic demonstrations against profiteering and corruption, with many protesters chanting anti-government slogans.

Related News:

Most liked

Toyota's new Corolla is coming, and it looks aggressive as heck
The Corolla has been long overdue for a major redesign, so fans will probably be excited to see what Toyota has in store for them. It will be making its global premiere along with the China-specific Levin sedan, which is an upmarket version of the Corolla.

Michael Avenatti arrested on suspicion of domestic violence
He concluded that he's "looking forward to a full investigation", expressing confidence that he'll be completely exonerated. Avenatti remained in custody Wednesday evening and a call and text message seeking comment weren't immediately returned.

Division III basketball player takes flagrant shot at opponent's head
Platt checked to see if the baseline official was looking and then threw a forearm/elbow at Tenaglia's head. In addition, the case is under review by Fitchburg State for consideration of further sanctions.

Prince Charles turns 70 with birthday portrait showing three generations of royalty
From the photos released, it could be seen that the photos were taken in the gardens of Clarence House. In one photo, the family poses very properly, while they share a laugh in another.

SF Doctor Fires Back at NRA's Cheap Shot on Twitter
Whether or not the shooter should have the gun is not really our concern: that is what the law profession is for. The mental anguish of the families never goes away, and we are the ones who treat them when it gets too much.

Marvel & Disney Remember Stan Lee in Touching Tribute Video
The Walking Dead's Jeffrey Dean Morgan was among the many people who criticised the actor's sarcastic words. While many saw this as a heartfelt way to say good-bye, Armie thought these efforts were self-aggrandizing.

Sisi Takes Part on 'Mini-Summit' on Libya in Italy
But diplomatic wrangling between Italy and France also hangs over this summit. Egypt's President Abdel Fattah al-Sisi arrived on Monday evening.

SoftBank to Raise $21 Billion
More than 80% of the shares will be offered to domestic retail investors, a person with knowledge of the matter told Reuters . The company forecasts 700 billion yen ($6.1 billion) in annual operating profit across all its telecom operations.

Nintendo Wins $12.2M in Lawsuit Against ROM Site Owners
To access legitimate Nintendo games online, please visit http://www.nintendo.com for information about the Nintendo Game Store. Nintendo also accused the defendants of using registered Nintendo trademarks, including logos and characters.

Watch Kevin Anderson v Kei Nishikori live in the ATP Finals
The one break Djokovic converted in the first set, at 2-2, was a cross-court forehand return victor which stranded Isner. Breaks of serve were exchanged in the second set before Cilic was required to save a match point at 4-5.

CNN Suing The White House
CNN asked for an injunction to immediately reinstate Acosta, as well as a hearing on the larger issue of barring a reporter. Sanders said, "We have been advised that CNN has filed a complaint challenging the suspension of Jim Acosta's hard pass".

Defense Secretary Mattis plans to visit U.S.-Mexico border
The closures are expected to last "until sometime after people in the caravan arrive to the border", the agency said . Most of the migrants are from Honduras and other Central American countries.

After the flames, California recovery crews face grim search for victims
The effort includes planes that scoop water from the ocean to drop on the flames - as a video posted to Twitter showed on Monday. At least seven of the more than three dozen of killed people died in their cars as they were trying to escape the flames.

Trump Threatens to Withhold Fed Funds for California Wildfire Fight
Officials stressed late Saturday that high winds are expected to resume on Sunday and mandatory evacuations must remain in place. The fast-moving blaze consumed most of Paradise, a town roughly 80 miles north of Sacramento.

Petta new poster: Rajinikanth, Simran play a happy couple
Readers may be aware that Rajinikanth and Simran Bagga will be coming together for the first time in the forthcoming film Petta . Simran, Trisha, Vijay Sethupathi, Sasikumar, Nawazuddin Siddiqui and Bobby Simha will be seen essaying other pivotal roles.