Iran billionaire tycoon Babak Zanjani sentenced to death for corruption

Tehran: Iran's billionaire tycoon Babak Zanjani has been sentenced to death for corruption, a judicial official said Sunday, after a trial in which he was accused of fraudulently pocketing $2.8 billion.

Zanjani became notorious during the era of president Mahmoud Ahmadinejad, finding ways to channel hard currency to Tehran despite financial sanctions imposed on the Islamic republic's banks as punishment for its nuclear programme.

Zanjani was convicted of fraud and economic crimes and as well as facing the death penalty he must also pay money to the state in restitution, judiciary spokesman Gholam Hossein Mohseni-Ejeie said at his weekly press conference.