Economy

Iranian Intel. Ministry dismantles company for ripping off citizens

Iran’s Intelligence Ministry says more than 150 leaders of a pyramid company calling itself Unique Finance have been arrested in 19 provinces across the country for financial wrongdoings.

The Intelligence Ministry said the arrests were made in coordination with the Iranian Judiciary. 

According to a report by the IRIB, the founders and managers of the company are Iranians living in neighboring countries. 

The report also says they falsely introduced the group as an international company that buys and sells shares of reputable firms in foreign stock exchanges. It adds that the pyramid company used deceptive methods such as claiming to pay huge amounts of profit, presented a digital token called UNQT and ripped off a large number of citizens across the country. 

The Judiciary has put the detainees on trial for causing economic disruption in Iran.

IFP Editorial Staff

The IFP Editorial Staff is composed of dozens of skilled journalists, news-writers, and analysts whose works are edited and published by experienced editors specialized in Iran News. The editor of each IFP Service is responsible for the report published by the Iran Front Page (IFP) news website, and can be contacted through the ways mentioned in the "IFP Editorial Staff" section.

Recent Posts

Nearly 85k Russian soldiers killed in Ukraine: Report

Journalists have identified the names of 84,761 Russian soldiers who died during the war in…

51 minutes ago

US downs own warplane while bombing Yemen: Pentagon

The United States Navy has inadvertently shot down its own F/A-18 fighter jet in a…

2 hours ago

China brands US as ‘war-addicted’

China’s Defense Ministry has accused the Pentagon of fabricating false narratives and twisting reality in…

2 hours ago

Iran Leader calls on Syrians to stand strong, predicts ‘better future’ for West Asia

The Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei has expressed optimism about the…

2 hours ago

IRGC says disbanded terrorist team in western Iran

The Islamic Revolution Guard Corps (IRGC) has announced that its intelligence forces have dismantled a…

3 hours ago

Hamas says Gaza ceasefire deal ‘imminent’ unless Israel imposes new conditions

The possibility of reaching an agreement to end the war in the besieged Gaza Strip…

3 hours ago