12.09.2011 - Iran hit by $2.6 bln banking scam: reports
Several Iranian banks have been targeted in one of the biggest frauds in the Islamic republic's history, losing nearly $US2.6 billion ($A2.46 billion) in more than two years, media reports say. The fraud was reportedly orchestrated by a single man, referred to as "Mr X" in Iranian media, who developed a network and used forged letters of credit to purchase assets, including one of Iran's largest steel production companies, Khuzestan Steel Company..............................................Full Article: Source
Print