Man with $70M Check?

The reputable rag, Bild am Sonntag (a German newspaper) reported that Tahmasb Mazaheri, Iran’s former central bank chief, was detained with a check worth about $70 million. It gets crazier, the check was actually made out to 300 million Venezuelan Bolivars, issued by the Bank of Venezuela.

2 thoughts on “Man with $70M Check?”

  1. I would expect his passport conditioned his ‘stop and search’ simply as an intel gathering exercise; I would go so far as to say he would have been expecting it!

    It is not unusual for couriers to travel with high value cheques, bank guarantees and bank instruments. In fact a $ 70 Mio USD cheque is actually on the low side, which could prove to be the result of a personal payment for an intermediary involved in a company ‘oil or AU metal’ transaction.

    With such transactions there is a contractual allowance of 1% for intermediaries involved in bringing a buyer & seller together, which is split evenly between the buyers and sellers groups. It is not unusual to find just one intermediary on each side, some have been established in the game for 30 or 40 years, the majority of which have come from a government banking ‘Mr-Fix-It’ background.

    The fact that sanctions are biting in hard against the Iranian regime shows that this known individual knows the rules of the game. It is also possible that the contract on the high value asset is registered with the IMF, Euroclear or DTC. It is further possible that ‘certain’ western governments have knowledge of the transaction and have happily received their ‘tax cut’!

    Money laundering between two isolated governments is simple enough through electronic banking, as long as it steers clear of countries outside of the Euro zone and the US.

    Ask good old China how they assist in operations inside and outside of the box. 😉

    Ask this man how he made his money (and allegedly lost it) over such a relatively short period!,d.ZG4

    Yours Aye.
    (Move along, there’s nothing to see here)!

    1. I was not aware that couriers were still used to ferry around checks (cheques) to such an extent, considering our modern banking system. As for your link, wow. The poor man lost progressively more hair as his ex-wife wore on him.

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