Corrupt Zarin Qalam Dynasty

The corrupt Zarin Qalam family

According to Iran Gate, with the expansion of the sanctions trading phenomenon in Iran, a few private exchange offices have taken the place of official banks as the currency arm of sanctioned traders. These exchange offices, which have accumulated currency from oil and non-oil exports, have become so influential that they are referred to as unofficial banks.

This report aims to uncover the details of corruption by providing an analytical analysis of hacked server documents from the country’s most important petrochemical company. It sheds light on the corruption of two supported exchange dealers by the security apparatus and their legendary wealth, who, with the support of two intelligence experts, have managed to seize the foreign exchange circulation of Iran’s petrochemical exports.

The Persian Gulf Trading and Industry Company is responsible for selling the products of affiliated petrochemical companies, which account for 70% of Iran’s petrochemical exports.

The heavy financial turnover of this company, as the pulse of the country’s petrochemical exports, has aroused the greed of some security factors. Since late 2018, through Mohsen Saeedi as the financial deputy and Mohammadreza Eftekhari as the commercial director, two exchange dealers, Hussein Shamkhani and Ali Bayandrian, have been injected into the composition of agents of this company to manage foreign exchange funds.

70% of Iran’s petrochemical exports’ currency circulation is monopolized by Zarrin Ghalam and Nabi Zadeh

Examining the server documents of the Gulf Fars Trading Company indicates that Mohsen Saeedi, as a member of the Security Council’s cover-up committee, has entrusted 90% of the management of the currency obtained from the exports of 70% of Iran’s petrochemical production to Mansour Zarrin Ghalam and Kambeiz Nabi Zadeh.

The analysis of these documents shows that the first rank in currency transfers belongs to the Novin Economic Bank, with an annual circulation volume of over $2 billion in currency from the sale of products of the Gulf Fars Holding.

The main broker of Novin Economic Bank is a person named Mansour Zarrin Ghalam, who owns the GCM exchange office, a partnership company with Zarrin Ghalam and others. The second rank belongs to the Tourism Bank, which has conducted an annual circulation of over $15 billion in currency from the sale of Gulf Fars’ petrochemical products. The majority of the brokerage operations of this bank are carried out by a person named Kambeiz Nabi Zadeh, the owner of Kambeiz Nabi Zadeh exchange office and partners.

Mansour Zarrin Ghalam ranks third, who directly contracted with the Gulf Commerce and Industry Company as GCM Exchange and managed the annual currency transactions of $15 billion resulting from the sale of Persian Gulf petrochemical products.

Kambiz Nabizadeh holds the fourth rank, who directly contracted with the Gulf Commerce Company as Kambiz Nabizadeh Exchange and partners, managing the annual currency transactions of $800 million resulting from the sale of the company’s products.