Iran executes ‘Sultan of Coins’ amid currency crisis


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

Vahid Mazloumin and another member of his currency trading network received the death penalty for “spreading corruption on earth”.

According to the Iranian Students’ News Agency, Mr Mazloumin and associates had hoarded about two tonnes of gold coins.

Demand for gold coins and US dollars in Iran has soared as the country’s currency has declined in value.

In the wake of the latest round of US sanctions on Iran, the rial has fallen about 70% against the US dollar.

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

A summer initiative was launched by Supreme Leader Ayotollah Khamenei to tackle financial crimes.

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.


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