Wednesday , 12 June 2024

Dubai Unlocked: Convicts, Wealthy Iranians With State Ties Implicated In Leaked Property Data

RFL/RE – Over 7,000 Iranians, including convicts and some with ties to the state, own what experts estimate to be billions of dollars of property in Dubai, according to a report by the Netherlands-based outlet Radio Zamaneh.

The information was obtained as part of a monthslong investigative project known as Dubai Unlocked. Journalists from 75 media outlets from across the world, including Radio Zamaneh, pored over the leaked data and have gradually released their findings over the past week.

Radio Zamaneh’s report cites academics and experts who say the total value of properties owned by Iranians in Dubai is around $7 billion.

It notes that while there is a slew of ordinary Iranians who have properties in the United Arab Emirates, there are also convicts, fugitives, and known figures with links to the Iranian establishment.SEE ALSO:Dubai Unlocked: How Yanukovych-Era Ukrainian Officials Poured Millions Into Secretive U.A.E. Real Estate

An office in Dubai’s Aspect Tower worth around $650,000 belongs to Abbas Iravani, a former head of the Ezam Automotive Parts Group who was sentenced to 65 years in prison earlier this year for his involvement in smuggling auto parts, disrupting the economy, and bribing officials. He has denied the charges.

Another prominent figure is Mohammad Emami, an investor and TV producer who is serving a 20-year prison sentence for his involvement in financial corruption. His friend and alleged co-conspirator in the case, Amir Reza Farzanrad, is a fugitive and also implicated in the Dubai Unlocked leaks.

Radio Zamaneh says Emami and Farzanrad each own a villa in the affluent Al-Merkadh neighborhood of Dubai worth $5.5 million and $12 million, respectively.

Convicted steel magnate Rasul Danialzadeh, sentenced to 16 years in prison for bribery, owns $12.6 million worth of property in Dubai, including five apartments in the upscale Al-Thanyah Fifth community and a villa in Palm Jumeirah.

The family of the late former President Akbar Hashemi Rafsanjani feature prominently in the leaks.

His oldest son, former Tehran City Council chairman Mohsen Hashemi Rafsanjani, owns an apartment worth an estimated $380,000. Mohsen’s son, Ehsan, has a small apartment in Dubai valued at $100,000.

Yasser Hashemi Rafsanjani — the ex-president’s youngest son — and his wife, Maryam, own two apartments in the Burj Khalifa worth a combined $1.45 million.

The reports also notes that several dual national Iranians own properties in Dubai, including Mehdi Shams, a former executive at the state-run Islamic Republic of Iran Shipping Line Group.

The report said Shams, who is sentenced to 20 years in prison over his involvement in a multibillion-dollar embezzlement case, purchased a villa valued at $20 million on his British passport.

To put the figures into perspective, the average annual household income in Tehran in the Iranian year 1401 (March 2022-23) was around 2.3 billion rials. That is roughly $3,900 per year, or around $325 a month.

“With a reputation for financial secrecy, low taxes, and an ever-expanding spread of valuable real estate, [Dubai] is an appealing option for those looking to launder or hide cash,” says the Organized Crime and Corruption Reporting Project, which along with Norwegian financial outlet E24 coordinated the investigation project.

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