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Depositors of Caspian Credit Institution march in front of the Iranian regime’s judiciary

The depositors of Caspian Credit institution demonstrate in front of the Iranian regime’s judiciary branch
The depositors of Caspian Credit institution demonstrate in front of the Iranian regime’s judiciary branch

Reported by PMOI/MEK

 

Iran, Feb. 5, 2019 - On Monday, the depositors of Caspian Credit institution demonstrated in front of the Iranian regime’s judiciary branch and marched toward Vali Asr Square. The protesters were chanting, “They betrayed us, but there were no court proceedings,” and “They betrayed their commitments but there were no court proceedings.”

The protesters were criticizing the judicial system for taking no action against the high level corruption that has been plaguing the country’s financial system. “Why isn’t the law enforced in our country?” the protesters were shouting.

 

 

 

Caspian is one of several credit institutions that declared a large deficit in 2017, wiping away billions of dollars’ worth of investor money. The credit institutions started absorbing investor money three years earlier with trumped up promises of fast returns on investment. Many Iranians trusted those companies with their wealth and lifesavings.

Those promises never materialized. These credit institutions have strong ties to Iranian regime officials and had gotten permits from the Iranian regime’s ministries. In particular, Caspian was approved by Iran’s Central Bank, leaving no doubt that the Iranian regime and its officials were all in on the scams that the institution was running. Caspian is owned and run by the IRGC, which has a notorious history of wasting the country’s resources on fueling conflicts in neighboring countries and empowering the Iranian regime’s security and repressing apparatus.

 

 

Protests by customers of Caspian Credit Institution

Protests by customers of Caspian Credit Institution

 

Since the collapse of the institutions, their customers have been regularly protesting and demanding the return of their funds. Iranian authorities have yet to take any concrete action toward making amends for the damages made to the customers of Caspian or to hold the perpetrators of this fraud scam to account. Meanwhile, protests continue in various cities, and tensions between the people and the government continue to grow.

 

 

 

Protests by customers of Caspian Credit Institution

Protests by customers of Caspian Credit Institution

 

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