The commencement of the trial of defendants in petrochemical corruption case began yesterday. 14 individuals are accused of a massive corruption including ¢ 6,650 billion money laundering. Former managers of PCC are the group of accused individuals working as a behind the curtain gang in Iran.
Yesterday, on Wed. March 6th, 2019, the prosecution of corruption cases in the petrochemical trades (mainly within the PCC loop) began in the Revolutionary Court, and 14 defendants filed a lawsuit with their lawyers. Almost all defendants are related to the former management team of Petrochemical Commercial Company (PCC) and its branches in Dubai and Shanghai.
According to the news broadcast by several national and international news agencies, the first hearing of the prosecution of the former CEO of PCC and 13 other defendants started at the substation 3 of the Special Revolutionary Court (SRC) for the Investigation of Disruptive and Corrupt Economic Crimes, chaired by Judge Masoudi-Magham, at 9:50 PM here in Teheran.
The proceedings at the prosecution stage have lasted in more than 5 years. That’s while the culprit of illicit money laundering and disruption is about 6.6 billion euros.
Judge: We are diligent to ensure that the vote is issued attentively
At the beginning of the prosecution, the SRC Judge, Masoudi said that: “The participation and disruption of petrochemicals worth 6,650 million Euros”. He said to the defendants: “As the Supreme Leader has said; we are diligent, and if the court vote is issued, it will be true and attentive.
Hosseini, the prosecutor’s representative, saying few points, explained: The investigation has been completed for some of defendants and some of his charges, and the case is open at the moment.
He said that; The first part of the accused defendants have received large amount of foreign currencies from the foreign buyers at the position of their companies’ directors and in the second part, based on the pretext of circumventing the sanctions, fake companies were established abroad and their money was transferred to their accounts before transferring it to the headquarter accounts in Iran.
The prosecutor’s representative stated that the defendants’ profits from the sale of products to foreign countries were estimated at € 6 billion and € 656 million. In terms of the high volume of the indictment (700 pages), I have prepared a shorter summary of about 120 pages that I am reading.
He said that in this case, Reza Hamzelou, the former CEO of the Petrochemical Commercial Company, and his accomplices (named below) have been accused of disrupting the macroeconomic system by distorting the distribution of exports from the PC companies, studying illegally acquired property in the amount of 7 billion and 65 thousand Euros. Then he named the accomplices of Mr. Hamzelou as follow:
Mohsen Ahmadian, retired PCC staff, is accused of participating in massive disturbance in the economic system, betrayal in treasury of petrochemical complaints, and report of the General Inspection of Iran. Abbas Samimi, member of the board of directors of PCC and managing director of Iran Investment Company, has been accused of participating in macroeconomic disruption in the above mentioned system, studying illegally acquired property in the amount of Rials 318 billion 627 million.
Ms. Maryam. M. the managing director of the Deniz Trading Company is accused of participating in a massive disruption to the economy of the country, as described above, and the amount mentioned, the study of property through illegitimate.
Also, Seyyed Amin Marashi Alireza Allah Yar Rahmani, Mustafa Tehrani Wafa, Saam, Ms. Masoumeh, Mohammad Hussein Shirali, and Saeed Khairizadeh were the other names which announced and accused of the same illegal acts Worth to say, the Dubai and Shanghai offices of PCC have also been involve in this massive corruption case ever found at the Iran’s PCC company.
Prosecutor’s representative pointed: The PCC has played a part in the work and consideration of the figures indicated that the total exports of petrochemical products by the company and the plaintiffs amounted to 6 billion and 656 million euros.
The PCC Trading Company, according to its constitution, has been instructed to market petrochemical products to companies both inside and outside the country and to sell its products to foreign and domestic buyers and pay the proceeds in coordination with the Petrochemical Company.
The prosecution of these PCC managers has absorbed the attention of all people within this industry, and many are alert to participate at the 2nd court room.
