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Iran ex-central bank governor gets 10-year jail term

A former governor of Iran’s central bank was sentenced Saturday to 10 years in jail over the loss of $160 million and 20 million euros in foreign currency trading.

Photo taken on January 17, 2016, shows then head of the Central Bank of Iran, Valiollah Seif (R)
Photo taken on January 17, 2016, shows then head of the Central Bank of Iran, Valiollah Seif (R)

Valiollah Seif, who headed the monetary authority between 2013 and 2018, is the first Iranian central bank governor ever to be indicted.

Seif, 69, remains free pending an appeal.

The judiciary’s website said he had repeatedly broken the law along with his deputy, Ahmad Araghchi, who was handed an eight-year jail term.

A third senior figure at the central bank, Rassoul Sajad, received a 13-year sentence for illegal foreign currency trading and taking bribes. AFP

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