![]() ![]() The organization now holds a court-ordered monopoly on taking property in the name of the supreme leader, and regularly sells the seized properties at auction or seeks to extract payments from the original owners. Setad has amassed a giant portfolio of real estate by claiming in Iranian courts, sometimes falsely, that the properties are abandoned. ![]() A six-month Reuters investigation has found that Setad built its empire on the systematic seizure of thousands of properties belonging to ordinary Iranians: members of religious minorities like Vahdat-e-Hagh, who is Baha’i, as well as Shi’ite Muslims, business people and Iranians living abroad. How Setad came into those assets also mirrors how the deposed monarchy obtained much of its fortune – by confiscating real estate. Through Setad, Khamenei has at his disposal financial resources whose value rivals the holdings of the shah, the Western-backed monarch who was overthrown in 1979. Article contentīut Setad has empowered him. This advertisement has not loaded yet, but your article continues below. Manage Print Subscription / Tax Receipt. ![]()
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