Iran billionaire sentenced to death

19:13, 06 March 2016
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Billionaire Iranian businessman Babak Zanjani has been sentenced to death for corruption, justice officials say, the BBC reported.

Babak Zanjani / BBC

He was arrested in December 2013 after accusations that he withheld billions in oil revenue channeled through his companies. He denies the allegations, according to the BBC.

Zanjani, 42, was convicted of fraud and economic crimes, a judiciary spokesperson said at a press briefing.

One of Iran's richest men, Zanjani was blacklisted by the U.S. and EU for helping Iran evade oil sanctions.

Two others were sentenced to death along with him and all were ordered to repay embezzled funds. The ruling can be appealed.

Zanjani had acknowledged using a web of companies in the United Arab Emirates, Turkey, and Malaysia to sell millions of barrels of Iranian oil on behalf of the government since 2010.

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