Former Governor of Iran‘s Central Bank Valiollah Seif was sentenced to ten years in prison on Saturday for trading in foreign currencies and losing $160 million and 20 million euros.
Seif, the first Iranian central bank governor to be prosecuted, led the monetary authority from 2013 to 2018.
Seif, who is 69 years old, is still free pending an appeal. According to the judiciary’s website, he and his deputy, Ahmad Araghchi, had regularly disregarded the law. Araghchi was sentenced to eight years in prison.
A third senior figure at the central bank, Rassoul Sajad, received a 13-year sentence for illegal foreign currency trading and taking bribes.