Iran executes trader nicknamed ‘Sultan of Bitumen’
- Hamidreza Bagheri Dermani is the third businessman to be executed since an anti-corruption drive was launched over the summer
- He was convicted of ‘corruption on earth’, Iran’s most serious offence, after swindling over US$100 million, Tehran’s media reported
Iran executed a trader known as the “Sultan of Bitumen” on Saturday over charges of fraud and large-scale smuggling of the oil product, according to the judiciary’s news agency Mizan online.
Hamidreza Bagheri Dermani, 49, is the third businessman to be executed since an anti-corruption drive was launched over the summer.
He was convicted of “corruption on earth” – a broad Islamic charge used for the most high-profile and serious cases – after swindling more than 10 trillion rials (US$238 million) through “fraud, forgery and bribery”, Mizan reported.
Dermani, who was arrested in August 2014, reportedly forged dozens of real estate documents to acquire bank loans.
He then used front companies to procure more than 300,000 tonnes of bitumen – an oil-based substance used in asphalt and other products and one of Iran’s most profitable businesses – Mizan said.