Iranian multibillionaire Babak Zanjani and two colleagues have been sentenced to death for fraud, Iranian Attorney General Gholam-Hossein Mohseni-Eje'i said Sunday.
Zanjani was accused of secretly selling Iranian oil as part of a criminal gang during the presidency of Mahmoud Ahmadinejad (2005-13) and embezzling billions in profits.
Current President Hassan Rowhani has stepped up investigations against corrupt gangs, including the arrest and trial of 41-year-old Zanjani.
During the court proceedings, members of Ahmadinejad's former cabinet were mentioned several times as potentially being involved in the scandal.
Zanjani was also blacklisted in the United States after he breached international sanctions against Iran by selling oil.
The economic sanctions, imposed on Iran over the last decade for its nuclear programme, were lifted in mid-January after Tehran scaled down its nuclear programme and fulfilled its obligations under a July nuclear deal with six world powers.