Case of Fugitive Banker

Rezvan said the judicial case of a former top Iranian banker, who fled to Canada after being involved in a massive fraud, has been referred to the Canadian Judicial authorities.

Date: 04 March 2015 - 21:11

News ID: ۱۱۶۹۶

"Canadian officials in Ottawa declared that his (hiding) place has been revealed and his case were referred to the Canadian judiciary,” he said, referring to an embezzlement case involving former head of Iran's Bank Melli, Mahmoud Reza Khavari.
He added that arresting Khavari requires an arrest warrant issued by the Canadian judicial system.
Khavari who is said to hold dual citizenship and own a home in Toronto fled to Canada after the $2.6 billion financial fraud came to light in 2011.
The embezzlement case started in 2007 by Amir Mansour Arya Investment Company, and developed in 2010 after some Iranian major banks, including Bank Saderat and Bank Melli, granted loans for the company.
Iranian officials say that the case involved the use of fraudulent documents to obtain credit for this investment company, one of the country's top financial institutions. The company used them to purchase assets such as state-owned companies.
Meanwhile, the International Criminal Police Organization (Interpol) has placed Khavari on its Red Notice Wanted list.
In the case of Red Notices, the persons concerned are wanted by national jurisdictions for prosecution or to serve a sentence based on an arrest warrant or court decision.