Iran arrests tycoon known for sanctions busting over graft

Iran today arrested on corruption charges a tycoon who reputedly played a major role in busting sanctions imposed on Tehran over its disputed nuclear programme, media reports said.
The news of Babak Zanjani's arrest was announced by prosecutor general Gholam Hossein Mohseni Ejei, who did not provide any other details, the official IRNA news agency reported.
But IRNA said the case against Zanjani -- who is said to have become rich by helping Iran to circumvent global sanctions on its vital oil exports -- was related to "financial crimes".
It added that Zanjani had been taken to Tehran's notorious Evin Prison.

The US Treasury put Zanjani on its sanctions blacklist in April after finding he masterminded a network to move oil and money for Iran that involved a Swiss-based company and bank in Malaysia. The European Union had imposed sanctions on him in December last year.
Zanjani oversees a conglomerate that comprises 65 companies which bring him an annual income of six to seven billion dollars, according to his website.