The infamous Shahram Jazayeri Arab, charged with "economic corruption", "disruption of the economic system of Iran", and "bribery" was sentenced to 27 years in prison, the Central News Bureau reported.

The presiding Judge Hossieni declared that the verdict consists of three parts, in which the harshest is 20 years in prison for disrupting the Iranian economic system, confiscation of his capitals earned through dishonest transactions and receive 50 lashes in public.

The young businessman has also been sentenced to another three years in prison and repay all the bribes, CNB said.

The defendant has to put up with yet another 4 years in prison for evading mandatory military service and producing a counterfeit discharge card.

The publicly televised court hearing of Shahram Jazayeri Arab, which lasted 10 months (130 working hours, 26 sessions), also included 49 of his partners and accomplices.

The final verdict of all these people consists of 308 pages.