Tehran Stock Exchange CEO resigns amid latest scandal

Tehran Stock Exchange CEO Ali Sahraei resigned his post following the discovery of a cryptocurrency mining farm in the basement of the building. Despite the discovery of dozens of miners working in the building, the organization’s public relations team strongly denied the existence of the farm, saying it was conducting a cryptocurrency investigation and research project. since 2020.

Sahraei issued a statement saying, “To create an opportunity for further research on the issue of cryptocurrency mining on the Tehran Stock Exchange and to consolidate the capital market, I submitted my resignation to the board of administration of the Tehran Stock Exchange, and to the Board of Directors. approved my resignation.

Although the miners used large volumes of electricity, Tavanir, the Iranian electricity organization, initially denied their existence. Following Sahraei’s resignation, Tavanir subsequently declined to comment on the incident, although state media confirmed that the current electricity shortages in Iran are due to cryptocurrency mining activities. rampant regime. The mining farms are run by the Revolutionary Guards (IRGC) to generate funds for the regime’s other malicious activities.

The National Council of Resistance of Iran (NCRI) said: “The existence of this mining farm in the Tehran Stock Exchange building comes after months of protests from the swindlers whom the regime deceived into investing in it. stock market and then looted them. There have been dozens of protests from defrauded creditors in recent months. “

To make up for the government’s budget deficit, former President Hassan Rouhani, overseen by regime supreme leader Ali Khamenei, has planned a plan to encourage Iranians to invest in the stock market as, according to the state daily Jahan-e Sanat last year. , “The reduction in oil and tax revenues would lead to a budget deficit of around 2 trillion rials.”

In an announcement by Farhad Dejpasand, the Minister of Economy of the Rouhani administration, made in October 2020, he said: “I would like to announce the good news. Thanks to the measures designed by the government, we could have offset our budget deficit by selling securities and transferring shares of public enterprises.

He encouraged the Iranians to put their own money and invest, saying that by transferring government shares in the first half of 2020 they managed to earn around 33 trillion tomans.

NCRI said: “Some 70 trillion rials of shares of social security investment companies, or Shasta, were sold to two million people in the form of eight billion shares. This reaches 3,600 shares for each stock market code or each buyer. These shares represented ten percent of Shasta’s capital.

The Iranians were deceived by the regime which encouraged them to invest in what they promised to be a “booming stock market”, however, in January this year, TEDPIX, the main index of the Tehran Stock Exchange (TSE) quickly fell, leading to its collapse. As a result, millions of Iranian citizens have lost all of their savings.

NCRI said: “The recent scandal over the discovery of a cryptocurrency mining farm in the Tehran Stock Exchange building has once again indicated the regime’s institutionalized corruption. This corruption has ravaged people’s lives over the past four decades.

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