Iran executes "Sultan of Coins" in the middle of the currency crisis

Iran executed a forex trader known as "sultan of coins" for hoarding gold coins.

Vahid Mazloumin and another member of his currency exchange network have been sentenced to death for "spreading corruption on the earth".

According to the Iranian student news agency, Mr. Mazloumin and his associates would have amassed about two tons of gold coins.

The demand for gold coins and US dollars in Iran has increased with the decline in the value of the country's currency.

Following the latest round of US sanctions on Iran, the rial has dropped about 70% against the US dollar.

• Iranian police arrest "sultan of coins"
• The impact of sanctions against Iran – in the graphs

As a result of the cost-of-living crisis, protesters took to the streets to fight alleged corruption.

Supreme Leader Ayotollah Khamenei launched a summer initiative to fight financial crimes.

Mr. Mazloumin has received at least seven death sentences this year in trials before the new special finance tribunals, some of which were broadcast live on public television.