Babak

Reza Zarrab, an Iranian-born Turkish businessman who was arrested in Miami on March 21, holds the vast majority of Iran's jailed billionaire tycoon Babak Zanjani's fortune, according to documents held by Iran, Iranian MP Amir Abbas Soltani has stated.

There is a celebratory mood in anti-government circles in Turkey over the arrest in the U.S. of Reza Zarrab, the Turkish businessman of Iranian origin, who is reportedly also a citizen of Iran and Azerbaijan. He is charged with conspiring to evade U.S. sanctions and transferring hundreds of millions of dollars to the Iranian administration headed by then President Mahmoud Ahmadinejad.

The Iranian government has said a death sentence decision for billionaire Babak Zanjani on corruption charges can change if he repays his debt of around $2.8 billion in cash to the state.

The airline company of Babak Zanjani, an Iranian businessman who is accused of being involved with corruption with former Iranian government officials, has been confiscated by the government, an Iranian official has said.

Iranian First Vice President Eshaq Jahangiri has accused the former Iranian government of transferring huge amounts of money to Istanbul and Dubai in order to keep currency rates under control.

Reza Zarrab, the controversial businessman involved in the bribery claims in Turkey's suppressed graft probe, has withdrawn his defamation case against Nationalist Movement Party (MHP) leader Devlet Bahçeli.

The decision came on Dec. 16, as the court hearing the case awaited documents from Iranian officials on his business ties in the neighboring country.