TEHRAN – The Intelligence Ministry on Tuesday announced the arrest of 17 members of a network who had abused Iran’s banking and foreign currency systems.

In a statement, the ministry said the arrests were made in Sistan-Baluchestan, Tehran, Mazandaran, Qom, Kerman and Isfahan provinces, IRNA reported.

The network had received foreign currency with a lower exchange rate from the government for imports, but instead had exchanged the foreign currency at a higher rate for its benefits, the statement read.

It also said 87 sham companies and documents were identified by the intelligence forces.

MH/PA