Seif and Araghchi had been sentenced to 20 years in jail and paying 1000 billion tomans for currency manipulation. But their prosecution was halted after seven years.
Seif and Araghchi had been found guilty of disrupting Iran’s currency market and facilitating illegal foreign exchange transactions worth $159.8 million and €20.5 million during their tenure. The rulings of the special courts for economic crimes were not appealable, but the defendants requested a retrial through high-ranking authorities, and the Supreme Court referred the case to a court of equal rank.
In the subsequent trial, the court again sentenced Seif and Araqchi to harsher sentences, and this ruling was also overturned by the Supreme Court following their objections, and the case was referred to the court for the third time.
The third court, in an unexpected move, deemed the charges as non-judicial and said handling the case was beyond the jurisdiction of the judiciary, placing it within the jurisdiction of the Administrative Offenses Organization.
Finally, the case was investigated by the Administrative Offenses Organization, and Seif and Araghchi were acquitted of all charges.
