Iran executes ‘Sultan of Coins’ convicted of hoarding

Vahid Mazloumin appears in court for the first time on charges of manipulating the currency market. (Tasnim News Agency/Reuters)
Updated 14 November 2018

Iran executes ‘Sultan of Coins’ convicted of hoarding

  • State TV reported that Vahid Mazloumin and his accomplice, Mohammad Ismail Ghasemi, were hanged early Wednesday
  • Iran detained Mazloumin in July for hoarding two tons of gold coins

TEHRAN: Iran executed the so-called “Sultan of Coins” and his accomplice on Wednesday for hoarding gold coins and other hard currency, signaling zero tolerance as it tries to shore up its currency in the face of an economic crisis.

State TV reported that Vahid Mazloumin and his accomplice, Mohammad Ismail Ghasemi, were hanged early Wednesday. They were convicted of manipulating coin and hard currency markets through illegal and unauthorized deals as well as smuggling. An unspecified number of other accomplices went to prison.

Iran detained Mazloumin, 58, in July for hoarding two tons of gold coins.

Iranians have stocked up on gold coins and other safe-haven investments as the local currency has plummeted in recent months amid renewed US sanctions following President Donald Trump’s withdrawal from the 2015 nuclear deal in May.

The Iranian rial has plunged to 135,000 to the dollar from last year’s rate of around 40,500.

Last week, President Hassan Rouhani said the Islamic Republic’s already-ailing economy is in a “war situation.” Sporadic protests over the deteriorating economy have erupted in recent months.


Palestinian minister claims Israeli police physically abused him

Fadi Hidmi. (Supplied)
Updated 04 April 2020

Palestinian minister claims Israeli police physically abused him

  • East Jerusalem — with a population of 350,000 — has been all but ignored by the Israeli Ministry of Health in the fight against the coronavirus pandemic

AMMAN: Palestinian Minister of Jerusalem Affairs Fadi Hidmi was released by Israeli police on Friday afternoon after being arrested for the fourth time without charge.

Ministry spokesman Awad Awad told Arab News that Hidmi had been “warned” not to “move around” or “do any work in” Jerusalem in accordance with measures being taken to minimize the spread of the coronavirus disease (COVID-19).

Awad also claimed that Hidmi had been physically abused by the police, saying that the minister was “punched in the face and forced to wear a mask with blood on it.”

CCTV at Hidmi’s Mount of Olives house show that he was manhandled by Israeli police during his arrest in the early hours of Friday.

Israeli police spokesman Micky Rosenfeld confirmed the arrest.

Rosenfeld told the Israeli press that Hidmi was arrested “on suspicion of Palestinian activities in Jerusalem.”

He said police searched Hidmi’s home and confiscated documents as well as “large sums of money. Israeli media said that the police had confiscated NIS10,000 ($2,750) found in the house.

Hidmi, a Jerusalem resident, was the director of the Jerusalem Chamber of Commerce and Industry before accepting his current job in the Palestinian Prime Minister Mohammad Shtayyeh’s government.

Before Hidmi’s release on Friday, Shtayyeh wrote on social media: “Israel targets who work for #Jerusalem, even at such critical moments as we work to save our people's lives from #COVID19.”

East Jerusalem — with a population of 350,000 — has been all but ignored by the Israeli Ministry of Health in the fight against the coronavirus pandemic.

Dr. Jamil Kousa, director of the St. Joseph hospital, told Palestine TV that he was only informed on March 25 that his hospital should be prepared to accept patients with COVID-19.

Ahmad Buderi, the coordinator of the Jerusalem Alliance — an organization launched to help combat COVID-19 — has said that people in the city are depending almost solely on local initiatives to deal with the pandemic.

Before his arrest, Hidmi launched the website madad.ps to coordinate the distribution of urgenly needed food and medical supplies to the city’s residents.

Walid Nammour, secretary-general of the Jerusalem Hospital Network, estimates that the city’s six hospitals need $7 million to to deal with the potential spread of COVID-19 in East Jerusalem.

Nammour told Arab News that 300-400 ventilators are needed and that only 26 are available at present.