Downfall of Iran’s billionaire sanctions-buster | The National:
"Is he a hero driven by patriotism or a swindler motivated solely by profit?
Either way, Babak Zanjani, a flamboyant Iranian billionaire who sports a Dh130,000 wristwatch, drives a black Mercedes 500SL and owns a Tehran football club, has suffered a spectacular fall from grace.
One of Iran’s wealthiest businessmen with a fortune worth an estimated US$14 billion (Dh51.38bn), Mr Zanjani helped the Islamic republic evade choking US-led sanctions imposed over its contentious nuclear programme.
But, on December 30, state-run media outlets reported that he was hauled off to Tehran’s notorious Evin prison on corruption charges that he vehemently denies."
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