Iran executes ‘Sultan of Gold Coin’ and his assistant

Two men hanged in Iran for hoarding gold coins as the country wages war on economic crimes

'Sultan of Coins' Executed for Hoarding Tons of Gold

Today Amnesty International condemned the "horrific" executions and said Iran had violated international law.

Vahid Mazloumin and Mohammad Ismail Ghasemi were hanged on Wednesday after they were found guilty of manipulating coin and hard currency markets through illegal and unauthorized deals, Iranian Students' News Agency (ISNA) reported.

Iran has executed two men convicted of illegal currency trading as Tehran steps up its crackdown on alleged financial crimes in the face of economic hardships heightened by USA financial sanctions.

Mazloumin, 58, who was arrested in July had collected two tons of coin over a ten-month period.

Philip Luther, Middle East research and advocacy director at the human rights organisation, said: "With these abhorrent executions the Iranian authorities have flagrantly violated global law and once again displayed their shameless disregard for the right to life".

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The currency's fall came as the United States in May withdrew from the 2015 nuclear deal between Tehran and world powers, and in August started reimposing economic sanctions that had been lifted in exchange for curbs on Iran's nuclear activities.

Iran could solve its economic problems by making better use of its "geographic, human and cultural" capacity as well as its underground resources and worldwide interactions, Khamenei said on Wednesday, according to the Islamic Republic of Iran Broadcasting news agency. The ruling had been upheld by the Supreme Court.

A second phase of sanctions targeting Iran's energy sector officially started on November 5.

Mr Mazloumin was one of at least seven people handed death sentences this year in trials in the new finance-focused special courts, some of which were broadcast live on state television.

The US dollar is being offered for as much as 130000 rials in Iran's free market, meanwhile the official rate is 42,800 rials.

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