Mahmoud Ahmadi-Nejad, the Iranian president, is being drawn into a scandal over a $2.8bn bank fraud allegedly perpetrated by his political allies.
The alleged fraud, described as the biggest in the country’s history, is an embarrassment for Iran’s populist president, who swept to power in 2005 on an anti-corruption platform. It comes against the backdrop of an intensifying power struggle between Mr Ahmadi-Nejad and his allies and conservatives supporting Ayatollah Ali Khamenei, the supreme leader.
Source: FT.com
