Fugitive Mahmoud Reza Khavari, former chairman of Bank Melli Iran from 2009 to September 2011, and Iranian Bank Sepah from December 2003 to March 2005, wanted both by America and Iran regarding a $2.6 billion fraud, is still alive and hiding in a $3 million walled estate with six security cameras in Toronto, Canada.

       Because Canada is not party to any bilateral extradition treaty with Iran he does not face extradition to Iran but is subject to revocation of his Canadian citizenship if he committed fraud in his citizenship application.   America could have him extradited from Canada to the U.S. to face charges in a federal court.

       Khavara is living in a Suncrest Drive $3 million mansion in the posh Bridle Path area of Toronto, Ontario he purchased in 2007.  He previously purchased a home in the North York area of the city in 2001.  He also owned a  company called Soaring Properties.

       He fled to Canada in September, 2011 following the arrest in connection with the largest fraud in Iran’s history of 22 prominent persons including members of Iran’s political and military elite and President Mahmoud Ahmadinejad.

      The UN blacklisted Banks Melli and Sepah in 2007for providing support to firms assisting Iran’s proliferation of weapons of mass destruction and the financing of terrorism.

       The $2.6 billion fraud money was used to start a private bank called Aria Bank by wealthy businessman Mahafarid Amir Khosravi allegedly forging letters of credit with the help of high level bank managers urged to participate by Iranian government officials linked to President Ahmadinejad.    

       The U.S. Treasury Dept. claims Bank Melli is suspected of involvement in the transaction of funds to various terrorist organizations.  

        Khavari also worked in Iran’s Bank of Industry and Mines and was a member of the Tehran Stock Exchange board of directors.

        Many of the companies and financiaal institutions Khavari was affiliated with have been blacklisted by the UN and Canada.

        The fugitive fears assassination and/or kidnapping.  GO GRAB HIM CIA! 

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  6. Keyvan says:

    You all think that the regime of Iran lies? Don’t they? Then how come all of a sudden about this one case you all jump to the conclusion of assuming this innocent man Mahmoud Reza Khavari is guilty? I thought the Iranian regime always lies and finds innocent people guilty??

    Mahmoud Reza Khavari is a SCAPE GOAT.

     A few facts to below to get you all started:

    1. 26 Suncrest was purchased 6 years ago – way before he even became the Chairman of bank Meli.

    2. The person responsible for this embezzelment is the chairman of bank Saderat. JAHROMI  is NATEHGH NOORIS brother in law who is close to KHAMENI (supreme leader of IRAN).

    3. The Letter of Credits were issued by Bank Saderat on Bank Saderats letter head, stamps and approved by bank Saderat.

    4. Bank of Meli discounted these Letter of Credits….how can you blame bank Meli for buying these Letter of Credits and trusting one of Irans biggest banks (bank Saderat)?

    5. How is it possible for bank Saderat to issue this many fake L/C and the chairman does not know about it? Why is chairman of bank Saderat not charged with any thing? Maybe it is because the 2.6 billon is with him and Khameni. 

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