Iran executed on Saturday a trader known as the "Sultan of Bitumen" over charges of fraud, bribery, and embezzlement, the judiciary's news agency Mizan online reported.
Hamidreza Bagheri Dermani is the third businessman to be executed since an anti-corruption drive was launched over the summer.
He was convicted of "corruption on earth", Iran's most serious capital offense, after swindling over 10 trillion rials (around $100 million at the current rate) through "fraud, forgery, and bribery", Mizan reported.
Dermani, first arrested in August 2014, reportedly forged dozens of documents of fake real estate to acquire loans from state banks.
He then used front companies to procure more than 300,000 tons of bitumen -- an oil-based substance used in asphalt and other products and one of Iran's most profitable businesses -- Mizan said.
Dermani was also accused of ties to business magnate Babak Morteza Zanjani, who is awaiting execution after being convicted in 2016 of embezzling $2.7 billion while helping the government circumvent international sanctions.
The Supreme Court in November upheld his October death sentence and conviction on a charge of spreading corruption on Earth. He was also ordered to pay a more than $100 million cash fine.
Dermani went on trial in August after being charged with forming a network of dummy companies to receive a large number of loans and buying government companies on a privatization list.
In August, Iran established special courts to deal with crimes involving suspected financial corruption.
Iran executed two traders for economic crimes in November in an effort to stem financial misconduct in the face of an economic crisis and US sanctions, reimposed after President Donald Trump withdrew from a 2015 international accord over Iran’s nuclear program.
The special courts have jailed dozens of businessmen and traders for up to 20 years.
The rial currency’s weakness earlier this year disrupted foreign trade and helped boost annual inflation fourfold to nearly 40 percent in November.
The weak currency has sparked sporadic street protests since late last year.
Iranian economists said the campaign against economic crime combined with an order from Ayatollah Khamenei this month to strengthen the rial have made many traders more wary of bidding the currency lower.
