Iran: The Downfall of Billionaire Babak Zanjani? | EA WorldView:
"With an estimated net worth of nearly $14 billion, Babak Zanjani is possibly Iran’s richest man.
Little was known, however, about the tycoon at home or abroad until his name appeared late in 2012 in connection with Western economic sanctions imposed on Iran over its disputed nuclear program.
Now the man blacklisted by the European Union and United States for playing what they say is a key role in evading those sanctions is feeling the heat from Iranian authorities, too.
Zanjani, who has referred to himself as an “economic basij” after the Iranian hard-line militia, was arrested on December 30 on corruption charges.
It’s a remarkable turnaround in fortunes for Zanjani, whose business empire, the Sorinet Group, reportedly includes some 65 companies that operate in Iran, Turkey, the United Arab Emirates, Malaysia, and Tajikistan."
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