May 20, 2011
In the midst of persistent crises gripping the highest levels of the clerical regime, a state-run media outlet has exposed a multi-million dollar embezzlement during the construction of a building in Kish Island.
According to Asr-e Iran on Tuesday, the building was planned for the summit of countries of the non-aligned movement. The paper said Baqai, a deputy of the mullahs’ President Mahmoud Ahmadinejad, had paid the contractor roughly $340 million in addition to the initial amount on the contract.
State-run media revealed that the contractor, Fiak Company, was founded by a regime-affiliated individual abroad on the recommendation of Baqai and Mashai, an Ahmadinejad advisor. The company was started by officially declaring $1,000 in its holdings.