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Last updated - February 10, 2026
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Under CEO Saeed Zarandi’s leadership, Mobarakeh Steel Company remains tainted by its regime-linked corruption scandals, massive illicit payoffs, and U.S. sanctions for fueling Iran’s steel sector that bolsters destabilizing activities and terror financing networks, undermining transparency and ethical industrial practices.
Chief Executive Officer
Medium Risk
Based on the available data, we suggest consumers approach this Individual with caution.
This advisory is based on a medium-risk score derived from OSINT, Adverse Media, Reviews, and Risk Factors identified in our research.
You may face moderate risks when engaging in consumer-related activities with this entity.
Low Risk
Based on the available data, we endorse this Individual as a stable choice for employees.
This recommendation stems from a low-risk score compiled from OSINT, Adverse Media, Reviews, and Risk Factors uncovered in our analysis.
Employment with this entity is expected to involve minimal risk.
Based on the available data, we suggest this Individual as a trustworthy option for investors and bankers.
This endorsement is informed by a low-risk score based on OSINT, Adverse Media, Reviews, and Risk Factors identified through our investigation.
Financial involvement with this entity is likely to present minimal risk to your interests.
Safe to Onboard
Enhanced Due Diligence required
Do Not Onboard
Monitor adverse media every 6 months
File SAR (Suspicious Activity Report) is warranted
Escalation to compliance committee
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Mobarakeh Steel Company was embroiled in a 2022 parliamentary investigation revealing $3 billion in graft, including illicit payoffs to officials and military branches during the previous administration.
Mobarakeh Steel supports entities controlled by the IRGC’s Bonyad Taavon Basij, contributing to Iran’s paramilitary and terrorism-linked networks as outlined in U.S. sanctions.
The U.S. Treasury designated Mobarakeh Steel Company in 2020 for its operations in Iran’s steel sector and material support to IRGC-affiliated entities, aiming to curb funding for destabilizing activities.
Following the 2022 corruption probe, Mobarakeh Steel’s shares were suspended on the Tehran Stock Exchange, requiring financial clarification amid calls for prosecutions and management overhauls.
As former Deputy Industry Minister, Zarandi was involved in discussions on cryptocurrency regulations amid U.S. concerns over Iran’s use of digital assets to evade sanctions and launder funds.
Regulatory and Compliance Screening
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Reputational and Adverse Media Risks
Geographic and Jurisdictional Risk
What you see here scratches the surface
We offer reward for actionable intel
Billion-dollar embezzlement scandal at Iran's Mobarakeh Steel Company reveals systemic corruption, implicating government officials and the IRGC.
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Tehran Stock Exchange suspends major steel firm amid a large corruption scandal, citing parliament report exposing mismanagement.
Detailed critical analysis alleging corruption and decline in Iran’s steel industry linked to governance and energy issues.
Other Red-Flags and Adverse News
Based on user engagement on this review profile, ProConsumer will decide to publish its Risk Audit report for public if a threshold engagement, traffic and user input is achieved.
Known Assets: [Real estate, investments, companies]
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Liabilities: [Bankruptcies, defaults, debts]
Wealth Sources: [Legitimate / Unclear / High-risk]
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Business Model Assessment
All comments are user-generated content and may not be verified. They represent the personal opinions of the public and should not be relied upon. These comments do not influence or determine our overall rating.
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Highly experienced
Well-recognized name
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Allegedly sold fake silver
Sued multiple times
Unregulated industry
Alarming number of complaints online
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