Babak Zanjani, an Iranian billionaire, has been sentenced to death according to justice officials, for allegedly committing fraud. In December 2013, he was arrested for withholding billions of dollars of oil revenue channelled through his companies. Zanjani denies the allegations but was convicted of fraud and economic crimes. The ruling can be appealed but he and two others involved for face the death penalty. Zanjani owes the government over $2.7 billion in oil revenue.