Iran executes men for hoarding gold coins amid currency crisis

The United States and Iran have been lobbing threats, fighting proxy wars, and imposing sanctions for decades. USA Today looks at over 60 years of this back-and-forth.

Iran executed two currency traders for allegedly hoarding gold coins and attempting to manipulate prices at a time when the country's economy is reeling from re-imposed U.S. sanctions following President Donald Trump's withdrawal from a nuclear deal, authorities said this week.

Vahid Mazloumin and Mohammad Esmail Ghasemi were convicted of "spreading corruption on Earth" and making "illegal deals" that destabilized currency markets, state-run IRNA news agency reported late Wednesday.

Both men were executed by hanging.

Mazloumin, 58, dubbed by Iranian media as the "Sultan of Coins," was arrested in July as part of a sweeping crackdown by Tehran on unauthorized deals and smuggling. He had two tons of gold coins in his possession. Ghasemi was his accomplice.

A noose hung up by Iranians living in exile in Germany is seen during a protest against Iranian policy in Iran and Syria regarding executions and stoning in front of the landmark Brandenburg Gate in Berlin in 2014.

A noose hung up by Iranians living in exile in Germany is seen during a protest against Iranian policy in Iran and Syria regarding executions and stoning in front of the landmark Brandenburg Gate in Berlin in 2014.
EPA
Iranians have stocked up on gold coins and other safe-haven investments as the local rial currency has plummeted in the wake of Trump’s May withdrawal from the 2015 nuclear deal between Iran and world powers. The Iranian rial has plunged to approximately 135,000 to the dollar from last year’s rate of around 40,500.

Iranian authorities have tried to stabilize currency prices by introducing a single official dollar exchange rate, but that has not stopped a parallel black-market rate.

The U.S. clampdown that restricts Iran's access to the international banking system and limits its ability to export products from its lucrative energy industry will trigger an economic recession in the nation next year, according to the International Monetary Fund. Iran already suffers from persistently high inflation and unemployment.

Source : https://www.usatoday.com/story/news/world/2018/11/15/iran-executes-men-hoarding-gold-coins-amid-currency-crisis/2009715002/

did the men die?

LOL This is just the beginning......I thought that our muslim brothers from the waste said Iran will even do better with the U.S sanction that it wont affect them economically.....If they like let them execute 95% of their population not my concern

Hmm, this can't happen in this part of the world.