Managers of Mesghal Portal Found Guilty Over Fluctuations in Iran’s Foreign Exchange Market Reviewed by Momizat on . Rating:
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Managers of Mesghal Portal Found Guilty Over Fluctuations in Iran’s Foreign Exchange Market

Prosecutor General of the Islamic Republic of Iran Gholam Hossein Mohseni Ejei Iran's Attorney General

Mesghal was the name of one of the most visited websites in Iran during the recent years. The number of visitors to this website multiplied in 2011 and 2012, as fluctuations hit Iran’s foreign exchange market. Over that certain period of time, Iranian Rial lost 100% of its value against foreign currencies.

Prosecutor General of the Islamic Republic of Iran Gholam-Hossein Mohseni Ejei announced on Monday that managers and owners of Mesghal will be taken to courts by the officials of Iran’s Judiciary service in near future.

“In 2012, Judiciary service decided to block the activities and operations of Mesghal. At the same time, Iranian police arrested the main managers and owners of Mesghal. Their trial will be begun in near future.” Iran’s Attorney General Gholam-Hossein Mohseni-Ejei remarked during a press-conference at Tehran.

“A large number of businessmen and traders were involved in manipulating exchange rates in Tehran and other major cities in 2011 and 2012.  The Judiciary service is still investigating similar cases in order to punish the main elements of this movement.” Mohseni-Ejei added.

Iran’s Attorney General went on to declare that Judiciary service and police have arrested 50 to 60 people in this regard. “A few numbers of these people are freed on bail, but the rest are in custody until we take them to official courts.” Ejei concluded.

Economists have already criticized the Iranian government for its poor performance over economic issues. Under Mahmoud Ahmadinejad, Central Bank of Iran (CBI) failed to control Iran’s foreign exchange market properly, which led to enormous problems for Iran’s economy.

Over the past few years, European and American countries have imposed embargoes on Iranian banking system.

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