Reported by PMOI/MEK
Iran, Jan. 21, 2019 – Tehran, the capital of Iran, was the scene of clients of the Caspian credit firm protesting and demanding their stolen money returned. The Caspian credit firm is known for its direct link to the Revolutionary Guards (IRGC).
The protesters were heard chanting:
“The thefts are obvious – The government is in on it”
“If our problems are not resolved, we’ll revolt here”
At an increasing trend, hundreds of people who have not been able to withdraw their deposits from Caspian credit institution are holding protest gatherings across the country, especially in Tehran, chanting angry slogans and demanding their savings returned.
During recent months, there have been many similar protests against the Caspian credit institution in other cities, as well as anger over the regime’s corruption escalates.
=
The Caspian Credit Institution gathered clients are seen rallying outside the regime institutions on a frequent basis, protesting the plundering of their investments by the IRGC-affiliated financial institution. The protesters demand the return of their deposits.
The regime-backed institutions have ruined their lives, as argued by the protesters. The demonstrators criticize regime officials for giving false promises and lying for the past two years.
The IRGC affiliated Caspian has been officially recognized and authorized by Iran’s Central Bank and has absorbed the savings of thousands of Iranians across the country. However, last year, the institution filed for bankruptcy, taking away all the investments of its customers.
Caspian is one of several credit institutions with shady backgrounds and disastrous outcomes that have stolen the savings of middle-class Iranians. All of these institutions have close ties to government officials and institutions, and have been running Ponzi schemes for years.
The defunct IRGC backed Caspian Credit Institute, founded in the 1990s claiming to be a local low-interest-rate loan fund, attracted thousands of investors by paying higher interest rates but later failed to fulfill its promises.
There are hundreds of similar funds active across Iran but the regime has failed to regulate them.
The foremost demand of the protesters is to take back their money siphoned off by the IRGC-aligned institution.
Many people across the country had trusted Caspian credit institution enough to decide to invest in it, as its name had been listed in Central Bank’s official website as an authorized institution. Therefore, investors are also saying they can no longer trust the regime’s Central Bank.
