Mahmoud Reza Khavari

Mahmoud Reza Khavari (Persian: محمودرضا خاوری‎; born May 26, 1952) is an Iranian former banker[3] who was involved in the 2011 Iranian embezzlement scandal. In 2005 he became a Canadian citizen.[4] He is a fugitive wanted by the judicial authorities of Islamic Republic of Iran. As of October 2016, Khavari was wanted by Interpol.[5]

Mahmoud Reza Khavari
Born
Mahmoud Reza Khavari

(1952-05-26) May 26, 1952[1]
Khorramabad, Lorestan, Iran[1]
NationalityIranian-Canadian[2]
EducationUniversity of Tehran
Shahid Beheshti University
OccupationBanker
Criminal chargeEmbezzlement[1]
Fraud[1]
Bribe taking[1]
Illegal acquisition of illicit property[1]
Capture status
At large
Wanted by
Iran
Interpol[1]
Wanted since2012
Escaped2011

He was chairman of Bank Melli Iran[2] until September 2011 and chairman of Bank Sepah’s board of directors from December 2003 until at least March 2005.[6]

Early life and education

Mahmoud Reza Khavari was born in the city of Khorramabad in western Iran. He obtained a Bachelor of Law degree from the University of Tehran and a master's degree from Shahid Beheshti University.[7]

Career

After graduation Khavari was hired by the Bank of Industry and Mine (Sanat-o-Madan) as the head of its complaints department. He was then selected to the board of directors of Sepah Bank in Rafsanjani's government and became the head of Sepah Bank during Khatami's presidency. In 2010 he was appointed by Ahmadinejad's government as the chairman of the board and managing director[8] of Bank Melli Iran, the largest bank in Iran.[9]

During his inauguration, Shamseddin Hosseini, minister of economic affairs and finance in Mahmoud Ahmadinejad's government described Khavari as a wise and pious man and told the reporters that the highest level scrutiny was employed in his appointment.[10]

Khavari has not obtained a PhD but has often referred to himself as Dr. Khavari in official Bank Melli Iran communications.[11]

2011 Iranian embezzlement scandal
Main article: 2011 Iranian embezzlement scandal

In 2011, Khavari resigned from his position at Bank Melli amid allegations of being involved in the Iranian embezzlement scandal of roughly 2.6 billion dollars. The scandal involved using forged documents to fraudulently buy assets that included major state-owned companies; Bank Melli, which Khavari led as its chairman of the board and managing director, was accused of facilitating fraudulent payments.[12] Khavari shortly after went to United Kingdom in order to attend a meeting at Lloyd Bank and announced his resignation by faxing it to Iranian officials on Tuesday, September 27, 2011.[8][7]

In his resignation letter, Khavari implicated another bank as the source of the fraud and claimed that he was resigning in order "to respect public opinion," according to Bloomberg.

At the end of September, 2011 he moved to Canada, where he has citizenship[2]. Toronto property records in Khavari’s name date to 2001, when he took out a mortgage for a $615,000 property on Elmwood Ave., in North York. At one time, Khavari owned a Toronto-based company called Soaring Properties.[6] In attempts to protect his capital from seizure, Khavari invested in Toronto real estate by giving money to his sons, Khashayar and Ardavan[13]. He also signed his 3-million dollar house in Bridle Path, Toronto over to his daughter, Parandis Khavari, and transferred their other two houses to be in Mrs. Khavaris name only[14]. Despite numerous requests from Iranian police, Canadian authorities did not extradite Khavari. He may face the death penalty if convicted by the judicial system of Iran.[2]

On October 31, 2011, House of Commons of Canada member Irwin Cotler called for investigation on how he became a Canadian citizen.[15]

In 2016 Bloomberg reported that Khavari and his sons have been active in Toronto real estate market even after the scandal and from 2012 to 2016 the family has purchased at least $12.1-million worth of properties under various names and legal entities. Additionally they are responsible for roughly $11-million from 10 different mortgages.[16]

Many of the companies and institutions that Khavari has been associated with such as Bank Sepah and later Bank Melli have been sanctioned by the UN security council and the international community since 2007. UN Security Council blacklisted Bank Sepah under resolution 1747 and placed restrictions on Melli under resolution 1803. According to security expert, Avi Jorisch, Khavari is in violation of the Special Economic Measures (Iran) Regulations for having worked and provided financial services on behalf of a designated Canadian entity. Khavari is also in violation of Canada’s Anti-Terrorism Act, along with Part II.1 of the Criminal Code (Section 83.05). Furthermore, under Section 83.05, Canadian authorities have the right to freeze Khavari’s assets.[17] However, as of 2016 Khavari has not been subjected to any asset freeze or investigation by the Canadian authorities.[18]

Whereabouts

In February 2014, the head of the Interpol Office of Iranian police said "a few days ago, the Canadian Interpol claimed in a phone contact that he has escaped to a Latin American or Caribbean country but that they couldn't verify the escape yet, and this is the latest piece of information provided by the Canadian police to us". He dismissed the report on his escape from Canada".[19]

In March 2015, the same official announced that his hiding place had been discovered and Canadian authorities were referring his case to Canadian judiciary.[20]

The New York Times reported that Canada, has chosen not to extradite him to Iran since the two countries do not have a bilateral extradition agreement in place.[21]

Published works
  • The Book of Banking Law Consisting of Legal and Legitimate Analysis of Banking Operations and Transactions (book) published by the Banking Training Center (Iran).
  • "Committed Crimes on Aircraft and Hijacking" ( essay)
  • "Press Crimes" (article)
  • Investigation into the Cause of Suspension of Punishment in Iran and E. U Countries Laws (white paper)
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See also

References
  1. "KHAVARI, MAHMOUD REZA". Interpol. Retrieved November 20, 2014.
  2. Jedinia, Mehdi (May 12, 2014). "Fugitive banker handed over to Iran". Al-Monitor. Retrieved November 20, 2014.
  3. "Executive Profile Mahmoud Reza Khavari". Bloomberg. Retrieved March 6, 2015.
  4. Proussalidis, Daniel (October 20, 2011). "Iranian-Canadian banker under investigation". Toronto Sun. Retrieved March 6, 2015.
  5. "Interpol red notice on Khavari still in place". Mehr News Agency. October 12, 2016. Retrieved May 3, 2017.
  6. Jackson, Emily (October 8, 2011). "Iranian tied to bank blacklisted by United Nations". Toronto Star. Retrieved March 6, 2015.
  7. http://alef.ir/vdcj8xe8tuqevyz.fsfu.html?214023
  8. "Banker in Iran scandal said to be in Toronto". The Globe and Mail. September 30, 2011. Retrieved May 3, 2017.
  9. http://www.parsine.com/fa/pages/?cid=49210
  10. http://www.bmi.ir/fa/shownews.aspx?nwsid=3124
  11. http://www.bmi.ir/Fa/shownews.aspx?nwsId=3325
  12. Jackson, Emily (October 3, 2011). "Scandal-plagued Iranian banker reportedly in Toronto". The Toronto Star. Retrieved June 27, 2017.
  13. "The Toronto developer, the Iranian fugitive and the bitter condo feud". Retrieved 2019-04-11.
  14. "Iranian banker gives $3-million Toronto house to daughter". Retrieved 2019-04-11.
  15. "Tabling of Petition in the House of Commons – Iran and Mahmoud-Reza Khavari". Irwin Cotler. November 1, 2011. Retrieved November 20, 2014.
  16. "The Toronto developer, the Iranian fugitive and the bitter condo feud". The Globe and Mail. July 8, 2016. Retrieved November 13, 2016.
  17. "Iran's mystery banker in Canada - Opinion - Jerusalem Post". www.jpost.com. Retrieved 2019-04-11.
  18. http://www.canlii.org/en/on/onsc/doc/2016/2016onsc101/2016onsc101.html?resultIndex=1
  19. "Iranian Police Dismiss Report on Fugitive Banker's Escape from Canada". Fars News Agency. February 3, 2014. Retrieved March 7, 2015.
  20. "Iranian Police: Fugitive Banker's Case Referred to Canadian Judicial System". Tasnim News Agency. March 4, 2015. Retrieved March 7, 2015.
  21. Gladstone, Rick; Hauser, Christine (2012-07-30). "Two Cases in Iran Tarnish President Ahmadinejad". The New York Times. ISSN 0362-4331. Retrieved 2017-06-09.
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