Iranian billionaire Babak Zanjani sentenced to death

Tehran: Iranian billionaire businessman Babak Zanjani has been sentenced to death for corruption, justice officials said. He was arrested in December 2013 after accusations that he withheld billions in oil revenue channelled through his companies. He denies the allegations. Zanjani was convicted of fraud and economic crimes, a judiciary spokesperson said at a press briefing.

Two others were also sentenced to death and all were ordered to repay embezzled funds.The ruling can be appealed.

One of Iran's richest men, Zanjani had been blacklisted by the US and EU for helping Iran evade oil sanctions in place at the time.