The Iranian Ministry of Petroleum has filed a lawsuit in Istanbul, Turkey claiming ownership of Onur Air (Istanbul Airport), a local airline linked to embattled Iranian billionaire tycoon, Babak Zanjani.
Arrested in December of 2013, Zanjani is currently on trial accused of embezzling USD2.8 billion from the Iranian government through shady sanctions-busting and money-laundering deals involving the illegal sale of Iranian oil.
The Hürriyet Daily says the Iranians' claim to Onur Air stems from an investigation that alleges Zanjani used two proxy partners - Kudret Tuncel and Mahdi Shams - to acquire the airline for USD235 million in 2013. While Zanjani later ceded his minority stake in the airline to the Petroleum Ministry, Tehran is now claiming ownership of both Tuncel and Shams' stakes on grounds that the money used was in fact that of the Iranian government.
Turkey’s courts, however, have said that both Shams and Tuncel's permission is required before the transfer of stakes can be effected.
Thus far, Tehran has seized significant Zanjani assets locally including Qeshm Airlines (QB, Tehran Mehrabad) as well as a 5-star hotel he built on the free-trade zone island of Qeshm.
