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Mahmoud Reza Khavari

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Mahmoud Reza Khavari (Persian: محمودرضا خاوری; born May 26, 1952) is an Iranian former banker,[8] businessman, and fugitive alleged embezzler[9][10] who was involved in the 2011 Iranian embezzlement scandal. He is a fugitive from the judicial authorities of Islamic Republic of Iran, and as of October 2016, he was the subject of an Interpol red notice issued on behalf of Iran.[11][12]

Mahmoud Reza Khavari
Born
Mahmoud Reza Khavari

(1952-05-26) May 26, 1952 (age 72)[2]
Khorramabad, Lorestan, Pahlavi Iran[2]
NationalityIran and Canada[3]
CitizenshipIran and Canada[1]
EducationUniversity of Tehran
Shahid Beheshti University
Occupation(s)Banker, businessman, alleged embezzler[4]
Known forInvolvement in the 2011 Iranian embezzlement scandal[7][1]
ChildrenArdy Khavari,[5][6] Ardavan Khavari, Parandis Khavari, Khashayar Khavari[7][1]
Criminal chargeEmbezzlement[1][2]
Fraud[2]
Bribe taking[2]
Illegal acquisition of illicit property[2]
Capture status
At large
Wanted by
Iran
Interpol[2]
Wanted since2012
Escaped2011

He was the chairman of Bank Melli Iran[3] until September 2011 and was chairman of Bank Sepah’s board of directors from December 2003 until March 2005.[13]

He became a Canadian citizen in 2005,[14] and he fled to Canada in 2011 to escape prosecution in Iran. Since then, he has been living in Canada, where he has not been charged with any crimes.

Early life and education

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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.[15] Mahmoud Khavari has two sons named Ardavan Khavari and Khashayar Khavari.[5][16][1][17] Ardavan Khavari is also known as Ardy Khavari.[10][18][19] Khashayar Khavari also is known as Khash Khavari.[12][4][17] Khavari also has one daughter named Parandis Khavari.[12]

Career

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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 Mahmoud Ahmadinejad's government as the chairman of the board and managing director[20] of Bank Melli Iran, the largest bank in Iran.[21][22]

During his inauguration, Shamseddin Hosseini, minister of economic affairs and finance in Ahmadinejad's government, described Khavari as a "wise and pious man" and told the reporters that the highest level of scrutiny was employed in his appointment.[23]

Khavari had not obtained a PhD[citation needed] but has often referred to himself as Dr. Khavari in official Bank Melli Iran communications.[24]

2011 Iranian embezzlement scandal

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Main article: 2011 Iranian embezzlement scandal

In 2011, Khavari resigned from his position at Bank Melli amid allegations of being involved in the $2.6 billion Iranian embezzlement scandal.[25][26][27] The scandal involved using forged documents to fraudulently buy privatized state 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 the fraudulent payments.[28][29][30] Khavari shortly after flew to the United Kingdom in order to attend a meeting at Lloyds Bank and announced his resignation via a fax to Iranian officials.[20][15][29][31]

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 fled to Canada, where he has held dual-citizenship since 2005.[3][32][33][34] Toronto property records under Khavari’s name date to 2001, when he took out a mortgage for a $615,000 property in North York. At one time, Khavari owned a Toronto-based company called Soaring Properties.[13] In an attempt to protect his assets from being seized, Khavari invested in Toronto real estate by loaning money to his sons, Khashayar and Ardavan.[35][36][37] He also signed his $3 million house in Bridle Path, Toronto, over to his daughter, Parandis Khavari, and transferred his other two houses to Mrs. Khavari.[38] 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.[3][39]

On October 31, 2011, Canadian MP Irwin Cotler called for an investigation on how Khavari acquired his Canadian citizenship.[40][41][42][43]

In 2016, Bloomberg reported that Khavari and his sons have been active in the 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 also responsible for roughly $11 million from 10 different mortgages.[44][45][11][46]

Many of the companies and institutions that Khavari has been associated with, such as Bank Sepah and Bank Melli have been sanctioned by the UN Security Council and the international community since 2007.[47][48] The Security Council blacklisted Bank Sepah under Resolution 1747 and placed restrictions on Bank Melli under Resolution 1803. Avi Jorisch, a former U.S. Treasury official, expressed his opinion in the Jerusalem Post that Khavari was likely to be in violation of the Special Economic Measures (Iran) Regulations for having worked and provided financial services on behalf of a designated Canadian entity.[49][50][51][52] Jorisch also said that Khavari may be in violation of Canada's Anti-Terrorism Act, along with Part II.1 of the Criminal Code (Section 83.05), and that under Section 83.05, Canadian authorities might have the right to freeze Khavari's assets.[49] However, as of 2016, Khavari had not been subjected to any asset freeze or investigation by the Canadian authorities.[53][54][55]

Whereabouts

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The New York Times reported in July 2012 that Canada had chosen not to extradite him to Iran, since the two countries do not have a bilateral extradition agreement in place.[56]

In February 2014, Iran's Fars News Agency reported that the head of the Interpol Office of the Iranian Police said "a few days ago, the Canadian Interpol Office 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". The Iranian police dismissed the report of his departure from Canada.[57] In March 2015, Iran's Tasnim News Agency reported that the same official said that Khavari's location in Canada had been identified and that Canadian authorities were referring his case to the Canadian judiciary.[58][needs update]

Published works

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  • 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)[full citation needed]
  • "Press Crimes" (article)[full citation needed]
  • Investigation into the Cause of Suspension of Punishment in Iran and EU Countries Laws (whitepaper)[full citation needed]

See also

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References

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  1. ^ a b c d e "An Iranian fugitive, Toronto property mogul and a deal gone awry". Financial Post. Bloomberg News. 2016-06-17. Retrieved 2022-05-29.
  2. ^ a b c d e f g "Khavari, Mahmoud Reza". Interpol. Retrieved November 20, 2014.[dead link]
  3. ^ a b c d Jedinia, Mehdi (May 12, 2014). "Fugitive banker handed over to Iran". Al-Monitor. Retrieved November 20, 2014.
  4. ^ a b Welle (www.dw.com), Deutsche. "یک مجله اقتصادی پسر خاوری را به عنوان "کارآفرین الهام‌بخش" معرفی کرد | DW | 29.05.2022". DW.COM (in Persian). Retrieved 2022-05-30.
  5. ^ a b "The Condo Feud That Erupted Between an Iranian Fugitive and a Toronto Mogul". Bloomberg.com. 2016-06-17. Retrieved 2022-05-29.
  6. ^ "پسر خاوری تاجر سال شد!". تجارت نیوز (in Persian). 2022-05-29. Retrieved 2022-05-29.
  7. ^ a b "فرزند خاوری، اختلاس‌گر بزرگ پول ملت ایران، "تاجر الهام‌بخش سال" شد!". اعتمادآنلاین (in Persian). Retrieved 2022-05-29.
  8. ^ "Executive Profile Mahmoud Reza Khavari". Bloomberg. Retrieved March 6, 2015.
  9. ^ Dingman, Shane (2020-08-26). "Failed Toronto condo project lays bare battle between wealthy foreign investors". The Globe and Mail. Retrieved 2022-05-29.
  10. ^ a b "خانواده "نسل‌اندرنسل کارآفرین" خاوری؛ از اختلاس و فرار پدر تا "الهام‌بخشی" پسر". Independent - Persian (in Persian). 2022-05-29. Retrieved 2022-05-29.
  11. ^ a b "Interpol red notice on Khavari still in place". Mehr News Agency. October 12, 2016. Retrieved May 3, 2017.
  12. ^ a b c "خانواده خاوری را بهتر و بیشتر بشناسید!". ISNA News (in Persian). 2017-11-30. Retrieved 2022-05-30.
  13. ^ a b Jackson, Emily (October 8, 2011). "Iranian tied to bank blacklisted by United Nations". Toronto Star. Retrieved March 6, 2015.
  14. ^ Proussalidis, Daniel (October 20, 2011). "Iranian-Canadian banker under investigation". Toronto Sun. Retrieved March 6, 2015.
  15. ^ a b "شرط اینترپل برای دستگیری خاوری".
  16. ^ TABNAK, تابناک | (2022-05-29). "گردش مالی عجیب فرزند خاوری در کانادا / تایکون: او "تاجر الهام‌بخش" است". fa (in Persian). Retrieved 2022-05-29.
  17. ^ a b "Khavari Family Owns 5 Restaurants in Toronto - IC Journal". 2018-10-19. Retrieved 2022-05-29.
  18. ^ "Ardy Khavari: The Young and Relentless Achiever". The Tycoon Magazine. 2022-02-19. Retrieved 2022-05-29.
  19. ^ Cameron, Neo (2020-08-17). "10 most prominent and influential CEOs and Managing Director in Toronto's business today". Ethos News. Retrieved 2022-05-29.
  20. ^ a b "Banker in Iran scandal said to be in Toronto". The Globe and Mail. September 30, 2011. Retrieved May 3, 2017.
  21. ^ "سوابق محمود رضا خاوری مدیرعامل فراری بانک ملی ایران".
  22. ^ "Petition: Canada Must Investigate Khavari and Marjan Aleagha". Iranian Canadian Congress. Retrieved 2022-05-30.
  23. ^ "مدیر عامل جدید بانک ملی آغاز به کار کرد". www.bmi.ir. Archived from the original on 2009-04-15.
  24. ^ "تاکید دکتر خاوری بر نقش مهم نیروهای حراست در تحول بانک ملی". Archived from the original on 2016-09-24. Retrieved 2016-09-24.
  25. ^ "Iran Chides Canadian Interpol for Lack of Cooperation over Fugitive Banker - Society/Culture news". Tasnim News Agency. Retrieved 2022-05-30.
  26. ^ "Iran's Police Ready to Nab Fugitive Banker if Canada Cooperates - Society/Culture news". Tasnim News Agency. Retrieved 2022-05-30.
  27. ^ "Iran's Judiciary Spokesman Not Optimistic about Fugitive Banker's Extradition - Society/Culture news". Tasnim News Agency. Retrieved 2022-05-30.
  28. ^ Jackson, Emily (October 3, 2011). "Scandal-plagued Iranian banker reportedly in Toronto". The Toronto Star. Retrieved June 27, 2017.
  29. ^ a b "Iranian Fugitive Banker Sentenced to 30 Years in Jail: Official - Society/Culture news". Tasnim News Agency. Retrieved 2022-05-30.
  30. ^ "Iran's Fugitive Banker Expanding Presence in Canada Real Estate Business: Report - Society/Culture news". Tasnim News Agency. Retrieved 2022-05-30.
  31. ^ "Iranian General Deplores Canadian Police' Refusal to Arrest Fugitive Banker - Politics news". Tasnim News Agency. Retrieved 2022-05-30.
  32. ^ "Iran Summons Italian Envoy to Protest Canada's Anti-Human Rights Behavior - Politics news". Tasnim News Agency. Retrieved 2022-05-30.
  33. ^ "No Dual Citizen in Iran Administration: Intelligence Minister - Politics news". Tasnim News Agency. Retrieved 2022-05-30.
  34. ^ "Iranian Police: Fugitive Banker's Case Referred to Canadian Judicial System - Society/Culture news". Tasnim News Agency. Retrieved 2022-05-30.
  35. ^ "The Toronto developer, the Iranian fugitive and the bitter condo feud". Retrieved 2019-04-11.
  36. ^ "Death terms for bank fraud". www.aljazeera.com. Retrieved 2022-05-30.
  37. ^ "Eight elements behind the protests in Iran". euronews. 2018-01-03. Retrieved 2022-05-30.
  38. ^ "Iranian banker gives $3-million Toronto house to daughter". Retrieved 2019-04-11.
  39. ^ Bastien, Laurent (2016-07-08). "The Toronto developer, the Iranian fugitive and the bitter condo feud". The Globe and Mail. Retrieved 2022-05-30.
  40. ^ "Tabling of Petition in the House of Commons – Iran and Mahmoud-Reza Khavari". Irwin Cotler. November 1, 2011. Retrieved November 20, 2014.
  41. ^ "Iran Expects West's Collaboration for Extraditing Fugitive Banker - Politics news". Tasnim News Agency. Retrieved 2022-05-30.
  42. ^ "Iran Sentences Fugitive Ex-Bank Chief To Prison In Absentia". RadioFreeEurope/RadioLiberty. Retrieved 2022-05-30.
  43. ^ "2 judicial officials arrested over $2.6b fraud case". Mehr News Agency. 2012-05-07. Retrieved 2022-05-30.
  44. ^ "The Toronto developer, the Iranian fugitive and the bitter condo feud". The Globe and Mail. July 8, 2016. Retrieved November 13, 2016.
  45. ^ "14 arrested in 100-million euro corruption case". Mehr News Agency. 2012-05-04. Retrieved 2022-05-30.
  46. ^ "Defendants in $2.6b fraud case stand trial in Tehran". Mehr News Agency. 2012-02-18. Retrieved 2022-05-30.
  47. ^ "Banking structure to be improved in the Fourth Development Plan: Khavari". Mehr News Agency. 2005-04-04. Retrieved 2022-05-30.
  48. ^ "Iran's proposal to allow foreign banks welcomed". Mehr News Agency. 2007-05-07. Retrieved 2022-05-30.
  49. ^ a b "Iran's mystery banker in Canada – Opinion". Jerusalem Post. 31 October 2011. Retrieved 2019-04-11.
  50. ^ "$2.6b embezzlement case leads to shakeup of banking system". Mehr News Agency. 2011-09-27. Retrieved 2022-05-30.
  51. ^ "EU sanctions on Iran's Bank Melli 'political': CEO". Mehr News Agency. 2009-05-25. Retrieved 2022-05-30.
  52. ^ "Former chief of Bank Melli does not return home". Mehr News Agency. 2011-09-30. Retrieved 2022-05-30.
  53. ^ "Khavari v Mizrahi, 2016 ONSC 101". canlii.org. Retrieved 20 November 2023.
  54. ^ "Tehran Court Links Financial Corruption Case To Circumventing Sanctions". Radio Farda. 9 March 2019. Retrieved 2022-05-30.
  55. ^ "Economy minister survives impeachment motion". Mehr News Agency. 2011-11-01. Retrieved 2022-05-30.
  56. ^ 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.
  57. ^ "Iranian Police Dismiss Report on Fugitive Banker's Escape from Canada". Fars News Agency. February 3, 2014. Retrieved March 7, 2015.[dead link]
  58. ^ "Iranian Police: Fugitive Banker's Case Referred to Canadian Judicial System". Tasnim News Agency. March 4, 2015. Retrieved March 7, 2015.
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