One Last Blow

Iran News - - DOMESTIC -

ILNA* - Fol­low­ing the re­jec­tion of his ap­peal for a con­vic­tion on fi­nan­cial rules vi­o­la­tions, for­mer Cen­tral Bank of Iran (CBI) gover­nor Vali­ol­lah Seif is now banned from hold­ing pub­lic of­fice for life.

The ban means he will have to step down from his cur­rent post as one of Pres­i­dent Has­san Rouhani’s ad­vi­sors, the Is­lamic Repub­lic’s ju­di­ciary an­nounced in a state­ment on its web­site De­cem­ber 6.

On Novem­ber 19 Iran’s Supreme Au­dit Court of Iran (SACI) up­held a Fe­bru­ary 2017 con­vic­tion of the for­mer gover­nor and his deputies.

Af­ter serv­ing nearly five years as the CBI gover­nor, Seif found him­self in hot wa­ter in early 2017 when one of the five of­fi­cial Cen­tral Bank-ap­proved credit in­sti­tu­tions was un­able to pay back the de­posits of the cus­tomers. Mean­while, the un­prece­dented nose­div­ing of the na­tional cur­rency (rial) against dol­lar and chaos in Iran’s cur­rency mar­ket put added pres­sure on the 66-year-old gover­nor.

Mean­while, in May, the U.S. Trea­sury Depart­ment had sanc­tioned both Seif and his staff for their roles in laun­der­ing money through an Iraqi bank to Tehran’s Le­banese proxy Hezbol­lah and the Quds Force, the Is­lamic Rev­o­lu­tion­ary Guards Corps’ (IRGC) ex­trater­ri­to­rial force. Wash­ing­ton has pre­vi­ously des­ig­nated both Hezbol­lah and the Quds Force as ter­ror­ist or­ga­ni­za­tions.

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