Mahmoud Reza Khavari Explained

Mahmoud Reza Khavari
Birth Name:Mahmoud Reza Khavari
Birth Date:May 26, 1952[1]
Birth Place:Khorramabad, Lorestan, Pahlavi Iran
Nationality:Iranian-Canadian
Occupation:Banker, Businessman, Embezzler[2]
Education:University of Tehran
Shahid Beheshti University
Criminal Charge:Embezzlement[3]
Fraud
Bribe taking
Illegal acquisition of illicit property
Capture Status:At large
Wanted By:Iran
Interpol
Wanted Since:2012
Escaped:2011
Citizenship:Iran, Canada
Children:Ardy Khavari,[4] [5] Ardavan Khavari, Parandis Khavari, Khashayar Khavari[6]
Known For:Involvement in the 2011 Iranian embezzlement scandal

Mahmoud Reza Khavari (Persian: محمودرضا خاوری; born May 26, 1952) is a former Iranian banker,[7] businessman, and fugitive embezzler[8] [9] who was involved in the 2011 Iranian embezzlement scandal. In 2005, he became a Canadian citizen.[10] He is a fugitive wanted by the judicial authorities of Islamic Republic of Iran, and as of October 2016, Khavari was wanted by Interpol.[11] [12]

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

Early life and education

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.[14] Mahmoud Khavari has two sons named Ardavan Khavari and Khashayar Khavari.[4] [15] [3] [16] Ardavan Khavari is also known as Ardy Khavari.[17] [18] Khashayar Khavari also is known as Khash Khavari.[2] Khavari also has one daughter named Parandis Khavari.

Career

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 Ahmadinejad's government as the chairman of the board and managing director[19] of Bank Melli Iran, the largest bank in Iran.[20] [21]

During his inauguration, Shamseddin Hosseini, minister of economic affairs and finance in Mahmoud 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.[22]

Khavari had not obtained a PhD but has often referred to himself as Dr. Khavari in official Bank Melli Iran communications.[23]

2011 Iranian embezzlement scandal

See 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.[24] [25] [26] 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.[27] [28] [29] 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.[14] [28] [30]

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.[31] [32] [33] Toronto property records under Khavari’s name date to 2001, when he took out a mortgage for a $615,000 property on Elmwood Ave in North York. At one time, Khavari owned a Toronto-based company called Soaring Properties. 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.[34] [35] [36] 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.[37] 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.[38] [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] [46] [47]

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.[48] [49] The Security Council blacklisted Bank Sepah under Resolution 1747 and placed restrictions on Bank Melli under Resolution 1803. According to security expert Avi Jorisch,Khavari is in violation of the Special Economic Measures (Iran) Regulations for having worked and provided financial services on behalf of a designated Canadian entity.[50] [51] [52] Khavari is also in violation of Canada’s Anti-Terrorism Act, along with Part II.1 of the Criminal Code (Section 83.05). Furthermore, under Section 83.05, Canadian authorities have the right to freeze Khavari’s assets.[53] However, as of 2016, Khavari has not been subjected to any asset freeze or investigation by the Canadian authorities.[54] [55] [56]

Whereabouts

In February 2014, 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". He dismissed the report on his escape from Canada.[57]

In March 2015, the same official announced that Khavari’s hideout had been discovered and Canadian authorities were referring his case to the Canadian judiciary.[58]

The New York Times reported that Canada has chosen not to extradite him to Iran, since the two countries do not have a bilateral extradition agreement in place.[59]

Published works

See also

Notes and References

  1. Web site: Khavari, Mahmoud Reza. Interpol. November 20, 2014.
  2. Web site: Welle (www.dw.com) . Deutsche . یک مجله اقتصادی پسر خاوری را به عنوان "کارآفرین الهام‌بخش" معرفی کرد DW 29.05.2022 . 2022-05-30 . DW.COM . fa-IR.
  3. News: News . Bloomberg . 2016-06-17 . An Iranian fugitive, Toronto property mogul and a deal gone awry . en . Financial Post . 2022-05-29.
  4. News: 2016-06-17 . The Condo Feud That Erupted Between an Iranian Fugitive and a Toronto Mogul . en . Bloomberg.com . 2022-05-29.
  5. Web site: 2022-05-29 . پسر خاوری تاجر سال شد! . 2022-05-29 . تجارت‌نیوز . fa-IR.
  6. News: فرزند خاوری، اختلاس‌گر بزرگ پول ملت ایران، "تاجر الهام‌بخش سال" شد! . 2022-05-29 . اعتمادآنلاین . fa.
  7. Web site: Executive Profile Mahmoud Reza Khavari . Bloomberg. March 6, 2015.
  8. News: Dingman . Shane . 2020-08-26 . Failed Toronto condo project lays bare battle between wealthy foreign investors . en-CA . The Globe and Mail . 2022-05-29.
  9. Web site: 2022-05-29 . خانواده "نسل‌اندرنسل کارآفرین" خاوری؛ از اختلاس و فرار پدر تا "الهام‌بخشی" پسر . 2022-05-29 . Independent - Persian . fa.
  10. News: Daniel. Proussalidis. Iranian-Canadian banker under investigation. Toronto Sun. October 20, 2011. March 6, 2015.
  11. Web site: Interpol red notice on Khavari still in place. Mehr News Agency . October 12, 2016. May 3, 2017.
  12. Web site: 2017-11-30 . خانواده خاوری را بهتر و بیشتر بشناسید! . 2022-05-30 . ISNA News - isna.ir . fa.
  13. Web site: Emily. Jackson . Iranian tied to bank blacklisted by United Nations. Toronto Star. October 8, 2011. March 6, 2015.
  14. Web site: شرط اینترپل برای دستگیری خاوری.
  15. Web site: TABNAK . تابناک . 2022-05-29 . گردش مالی عجیب فرزند خاوری در کانادا / تایکون: او "تاجر الهام‌بخش" است . 2022-05-29 . fa . fa.
  16. Web site: 2018-10-19 . Khavari Family Owns 5 Restaurants in Toronto - IC Journal . 2022-05-29 . en-CA.
  17. Web site: 2022-02-19 . Ardy Khavari: The Young and Relentless Achiever . 2022-05-29 . The Tycoon Magazine . en-US.
  18. Web site: Cameron . Neo . 2020-08-17 . 10 most prominent and influential CEOs and Managing Director in Toronto's business today. . 2022-05-29 . Ethos News . en.
  19. News: Banker in Iran scandal said to be in Toronto. The Globe and Mail . September 30, 2011. May 3, 2017.
  20. Web site: سوابق محمود رضا خاوری مدیرعامل فراری بانک ملی ایران .
  21. Web site: Petition: Canada Must Investigate Khavari and Marjan Aleagha . 2022-05-30 . Iranian Canadian Congress.
  22. Web site: مدیر عامل جدید بانک ملی آغاز به کار کرد . www.bmi.ir . dead . https://web.archive.org/web/20090415164838/http://www.bmi.ir/Fa/ShowNews.aspx?nwsId=3124 . 2009-04-15.
  23. Web site: تاکید دکتر خاوری بر نقش مهم نیروهای حراست در تحول بانک ملی . 2016-09-24 . 2016-09-24 . https://web.archive.org/web/20160924180807/http://www.bmi.ir/Fa/shownews.aspx?nwsId=3325 . dead .
  24. Web site: Iran Chides Canadian Interpol for Lack of Cooperation over Fugitive Banker - Society/Culture news . 2022-05-30 . Tasnim News Agency . en.
  25. Web site: Iran's Police Ready to Nab Fugitive Banker if Canada Cooperates - Society/Culture news . 2022-05-30 . Tasnim News Agency . en.
  26. Web site: Iran's Judiciary Spokesman Not Optimistic about Fugitive Banker's Extradition - Society/Culture news . 2022-05-30 . Tasnim News Agency . en.
  27. Web site: Emily . Jackson. Scandal-plagued Iranian banker reportedly in Toronto. The Toronto Star . October 3, 2011. June 27, 2017.
  28. Web site: Iranian Fugitive Banker Sentenced to 30 Years in Jail: Official - Society/Culture news . 2022-05-30 . Tasnim News Agency . en.
  29. Web site: Iran's Fugitive Banker Expanding Presence in Canada Real Estate Business: Report - Society/Culture news . 2022-05-30 . Tasnim News Agency . en.
  30. Web site: Iranian General Deplores Canadian Police' Refusal to Arrest Fugitive Banker - Politics news . 2022-05-30 . Tasnim News Agency . en.
  31. Web site: Iran Summons Italian Envoy to Protest Canada's Anti-Human Rights Behavior - Politics news . 2022-05-30 . Tasnim News Agency . en.
  32. Web site: No Dual Citizen in Iran Administration: Intelligence Minister - Politics news . 2022-05-30 . Tasnim News Agency . en.
  33. Web site: Iranian Police: Fugitive Banker's Case Referred to Canadian Judicial System - Society/Culture news . 2022-05-30 . Tasnim News Agency . en.
  34. News: The Toronto developer, the Iranian fugitive and the bitter condo feud. 2019-04-11.
  35. Web site: Death terms for bank fraud . 2022-05-30 . www.aljazeera.com . en.
  36. Web site: 2018-01-03 . Eight elements behind the protests in Iran . 2022-05-30 . euronews . en.
  37. News: Iranian banker gives $3-million Toronto house to daughter. 2019-04-11.
  38. Web site: Mehdi . Jedinia. Fugitive banker handed over to Iran. Al-Monitor. May 12, 2014. November 20, 2014.
  39. News: Bastien . Laurent . 2016-07-08 . The Toronto developer, the Iranian fugitive and the bitter condo feud . en-CA . The Globe and Mail . 2022-05-30.
  40. Web site: Tabling of Petition in the House of Commons – Iran and Mahmoud-Reza Khavari. Irwin Cotler. November 1, 2011. November 20, 2014.
  41. Web site: Iran Expects West's Collaboration for Extraditing Fugitive Banker - Politics news . 2022-05-30 . Tasnim News Agency . en.
  42. News: Iran Sentences Fugitive Ex-Bank Chief To Prison In Absentia . 2022-05-30 . RadioFreeEurope/RadioLiberty . en.
  43. Web site: 2012-05-07 . 2 judicial officials arrested over $2.6b fraud case . 2022-05-30 . Mehr News Agency . en.
  44. News: The Toronto developer, the Iranian fugitive and the bitter condo feud. July 8, 2016. The Globe and Mail. November 13, 2016.
  45. Web site: 2012-05-04 . 14 arrested in 100-million euro corruption case . 2022-05-30 . Mehr News Agency . en.
  46. Web site: 2016-10-12 . Interpol red notice on Khavari still in place . 2022-05-30 . Mehr News Agency . en.
  47. Web site: 2012-02-18 . Defendants in $2.6b fraud case stand trial in Tehran . 2022-05-30 . Mehr News Agency . en.
  48. Web site: 2005-04-04 . Banking structure to be improved in the Fourth Development Plan: Khavari . 2022-05-30 . Mehr News Agency . en.
  49. Web site: 2007-05-07 . Iran's proposal to allow foreign banks welcomed . 2022-05-30 . Mehr News Agency . en.
  50. Web site: 2011-09-27 . $2.6b embezzlement case leads to shakeup of banking system . 2022-05-30 . Mehr News Agency . en.
  51. Web site: 2009-05-25 . EU sanctions on Iran's Bank Melli 'political': CEO . 2022-05-30 . Mehr News Agency . en.
  52. Web site: 2011-09-30 . Former chief of Bank Melli does not return home . 2022-05-30 . Mehr News Agency . en.
  53. Web site: Iran's mystery banker in Canada - Opinion - Jerusalem Post. www.jpost.com. 31 October 2011 . 2019-04-11.
  54. Web site: canlii.org. 20 November 2023. Khavari v Mizrahi, 2016 ONSC 101.
  55. Web site: Tehran Court Links Financial Corruption Case To Circumventing Sanctions . 2022-05-30 . RFE/RL . 9 March 2019 . en.
  56. Web site: 2011-11-01 . Economy minister survives impeachment motion . 2022-05-30 . Mehr News Agency.
  57. Web site: Iranian Police Dismiss Report on Fugitive Banker's Escape from Canada. Fars News Agency. February 3, 2014 . March 7, 2015.
  58. Web site: Iranian Police: Fugitive Banker's Case Referred to Canadian Judicial System . Tasnim News Agency. March 4, 2015. March 7, 2015.
  59. News: Two Cases in Iran Tarnish President Ahmadinejad. Gladstone. Rick. 2012-07-30. The New York Times. 2017-06-09. Hauser. Christine. en-US. 0362-4331.

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