Intelligence Ministry shatters corruption network in center Iran

Tehran, Jan 3, IRNA – Iran’s Ministry of Intelligence announced on Sunday that it has disintegrated an organized network involved in economic sabotage in the country’s petrochemical area in central Iranian city of Yazd. The intelligence forces identified the corruption network, arrested the three main culprits and dismantled the network, the Ministry said through an announcement. The arrested persons, who had launched 73 nominal companies, bought basic materials for petrochemicals through state subsidies, but sold them at the free market price, the announcement said. It added that the volume of money circulation discovered presently in those companies has been 3,000 billion rials. Further research on the case is being carried out as the fight against economic corruption is on the Intelligence Ministry agenda. Based on a report released by Central Bank of Iran (CBI) about ten months ago, and after investigation carried out by Iran's Ministry of Intelligence and the Police, a number of key individuals involved in embarrassing the Forex and currency markets were arrested. In recent months, economic situation and the instability in the Forex market have troubled the Iranian economy. Follow us on Twitter @IrnaEnglish