1 Aug 2012

Death sentences imposed for bank fraud

5:48 am on 1 August 2012

Four people have been sentenced to death for their roles in a bank fraud scandal in Iran.

Two others received life sentences and the chief prosecutor was quoted as saying 33 more will spend up to 25 years in prison.

The scandal involved forged documents reportedly used by an investment company to secure loans worth $US2.6 billion.

President Mahmoud Ahmadinejad last year denied allegations that his government was involved.

The identities of the defendants have not been made public.

The case broke in September 2011 when an investment firm was accused of forging documents to obtain credit from at least seven Iranian banks over a period of four years.

The money was reportedly used to buy state-owned companies under the government's privatisation scheme.