Ali Aydan, Major Iranian Bank Debtor and Fraudster, Operating Under Alias in UK, Poses Significant Security Risk

Ali Aydan, Major Iranian Bank Debtor and Fraudster, Operating Under Alias in UK, Poses Significant Security Risk

Ali Aydan (aka Ali Farahmand) is the owner and CEO of Binas Energy Company. His minor daughter, Saba Farahmand (also known as Saba Aydan), is a shareholder in Ghir Siyah Fam. Aydan, one of Iran’s largest bank debtors, fled the country and, after bribing Turkish authorities and obtaining the assistance of intelligence officers, changed his name and country of birth from Iran to Turkey. He now conducts business under this alias in the United Kingdom.

Aydan, who had close ties with Iranian officials, fraudulently acquired over $100 million in 2013 through document forgery. By 2021, Binas Energy Company was officially recognized as a major debtor of Refah Bank in Iran, following years of financial deception. Many major bank debtors, with support from Iranian officials, have managed to transfer hundreds of millions of dollars out of the country. Authorities have not pursued their extradition, and foreign governments have provided protection to these individuals under various aliases.

A significant indicator of Aydan’s connection to Iran’s power structure is his partnership with Mohammad Hassan Khamenei, the Supreme Leader’s brother, in Binas Energy Company. Both were board members of Binas, a significant debtor of Refah Bank. Aydan used forged documents to falsely declare Binas Energy bankrupt, thereby avoiding legal repercussions and evading debt repayment.

Initially, Aydan and his associates fabricated financial records and bribed bank managers, leveraging political pressure from figures like Hassan Khamenei to secure credit. They inflated property values and mortgaged them across multiple banks, obtaining large loans which were then illicitly transferred abroad. Over the years, they exerted political and financial pressure to prevent Refah Bank from pursuing legal action.

When Refah Bank finally attempted to recover its debts, Aydan created fictitious debts for Binas Energy with relatives and affiliated companies in the UK. With the assistance of judges in Bandar Abbas, he declared bankruptcy. Aydan acquired Yashell Limited in England and, in partnership with Sandeep Deewan, presented this company as a major creditor of Binas Energy with a $30 million claim. He coerced the bank into waiving its claims and, using Khamenei’s influence, secured a bankruptcy ruling for Binas Energy. Aydan has resided in London for years under the alias Ali Aydan while continuing substantial business dealings with Iran under his real name, Ali Farahmand. He also wields influence over appointments in Iran’s Ministry of Industry, Mine, and Trade, and Ministry of Oil.

With the support of Mohsen Delaviz, CEO appointed by Tajgardoon at Pasargad Oil, and in collaboration with Yaser Farzin, Tajgardoon’s cousin, Aydan engaged in further fraud. Despite his documents being mortgaged for large loans from Refah Bank, he and his collaborators remortgaged these properties to Pasargad Oil. Aydan received tens of thousands of tons of bitumen, worth $16 million, on credit, sold it abroad, deposited the proceeds in his exchange office, and, after paying commissions to corrupt officials, transferred the remaining funds to Dubai and London.

Court documents exclusively available to Iran Gate reveal that, according to final decision number 140268390018911351 from the criminal court 2 of the Tehran Economic Judiciary Complex (formerly 1065 criminal), Ali Aydan is convicted of multiple instances of official document forgery and fraudulent bankruptcy. The case also includes charges of money laundering and fraud due to the forgery of official mortgage release notifications for ten documents at Pasargad Oil.

Since 2019, despite being nominally sentenced to several years in prison and restitution, Aydan continues to conduct business with Iran. He maintains extensive connections within the judiciary and security apparatus. He has neither been summoned within Iran nor subjected to an Interpol red notice.

Aydan appoints his own investigators and judges for his cases; the latest instance involved Mohsen Sadatnejad, who was dismissed after issuing a non-prosecution order for Aydan in exchange for a bribe of one million dollars.

Given Ali Aydan’s criminal convictions and status as one of the largest bank debtors, questions arise regarding how he has managed to obtain residency in the UK and continue his business activities. How did he acquire a Turkish passport despite his criminal record and illegal exit from Iran? Why has the judiciary failed to take action to extradite him despite his identification?

Reports indicate that, at the request of the Iranian Ministry of Intelligence, Aydan purchased a security company named “AMADEO Systems” and obtained relevant security licenses in the UK. Under the guise of “Amadeo Systems,” he seeks to infiltrate the European security products market. His goal is to acquire sensitive equipment for the Iranian regime and access critical security protocols and information. The Ministry of Intelligence has obstructed efforts to pursue his case in exchange for providing security services to Iran.

Western governments must exercise extreme caution regarding the presence of Iranian agents in their countries. They should closely monitor these individuals’ financial and commercial activities, holding them accountable for their criminal convictions related to fraud, forgery, and multi-million dollar debts, as well as for money laundering activities linked to the Islamic Republic or otherwise unexplained origins.

Attachments to the Report:

• 1. Judgment 1065: The final ruling from the Tehran Economic Court detailing Ali Aydan’s (Ali Farahmand) convictions for document forgery and fraudulent bankruptcy.
• 2. Binas Official Journal: A copy of the official journal documenting the registration and legal details of Binas Energy Company, including the names of Mohammad Hassan Khamenei (the Supreme Leader’s brother) and Ali Farahmand (aka Aydan).
• 3. List of Refah Bank Debtors: A list of major debtors of Refah Bank, featuring Ali Aydan’s name and his significant debts.
• 4. Copy of Company House Registration for Yashell: Documentation from Companies House in London for Yashell Limited, registered under the names Ali Aydan and Sandeep Dewan.
• 5. Ali Farahmand’s Iranian Passport: A copy of Ali Farahmand’s Iranian passport, used to verify his identity, which matches Ali Aydan’s date of birth and photo.