Rights group condemns Iran's 'abhorrent' execution of 'Sultan of Coins'

'Sultan of Coins' Executed for Hoarding Tons of Gold

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 US financial sanctions.

Iran has executed a currency trader known as the "Sultan of Coins" for his amassing of gold coins.

Special courts focused on financial crimes were set up in August with the approval of Supreme Leader Ayatollah Ali Khamenei, the highest authority in the Islamic Republic. Media reports say Mazlumin had been caught with two tonnes of gold coins.

Iran detained Mazloumin in July for hoarding two tons of gold coins and accused him of "spreading corruption on earth" - a capital offence under Iran's Islamic laws.

The Tehran prosecutor on November 14 said Mazloumin's "network was one of the most influential unlawful activists of the foreign-exchange and coin market".

"These men were convicted after a grossly unfair show trial that was broadcast on state television", he said, adding that worldwide law forbids the death penalty for non-lethal crimes.


They were put to death after the Supreme Court upheld their death sentences and the legal processes were completed, Tasnim reported.

Trump reinstated the United States sanctions and since then the Iranian rial has lost around 70 per cent of its value; it is now 135,000 to the dollar compared to last year's rate of around 40,500. His case was up for appeal before the Supreme Court, but the status of his case was not immediately clear.

U.S. President Donald Trump reimposed the sanctions to push Iran to accept tougher restrictions on its nuclear activity, end its ballistic missile program and stop support for proxies in Middle East conflicts ranging from Yemen to Syria.

Iran does not publish official statistics on the number of people it executes.

As a result, a cost of living crisis has seen demonstrators take to the streets against perceived corruption.

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