According to the Globe and Mail, a $3 million house in Toronto, is owned in Mahmoud Reza Khavari's name. According to the Iran News Update, in 2005 Khavari became a citizen of Canada allegedly. The investigation determined that Mahafarid Amir Khosravi had masterminded the scheme, with his Aria Investment Development Company being the primary recipient of the loans. Khosravi was convicted of embezzlement, money laundering, and bribery. He and three of his closest associates received the death penalty in July 2012. A total of 39 people were convicted of fraud in the case. On 24 May 2014, Khosravi was executed by hanging. Khavari remains a fugitive. However, Khosravi’s lawyer said that he was made unaware of Khosravi’s execution, according to IB Times. According to BBC, Iran Chief prosecutor said that two other defendants were sentenced to life in prison, whereas 33 more are to spend 25 years jail. Mahmoud Reza Khavari in 2011, took to safety in Canada as reported by Arab news. Furthermore, Khavari has been sentenced on four charges to a cash fine, compensation and a long prison term. On 3 October 2011, Supreme Leader Ayatollah Ali Khamenei told viewers of Iranian state TV "People should know all these (responsible) will be pursued. ... God willing, the traitorous hands will be cut." The leader also stated the media should not use the case to "strike at officials." The speaker of the Iranian parliament, Ali Larijani, said that all three branches of the government were determined to deal with the recent banking scam case. Ahmad Tavakkoli, a member of parliament, said on 18 September 2011 that the embezzlement of 28 trillion rials (3,000 billion toman) is an intolerable scandal, adding that if administration officials are not able to handle the affairs, they should step down. In addition, he said that a number of members of parliament have introduced a motion, which envisages the establishment of a special committee to pursue the embezzlement case. With reference to top ranking Iranian government officials, the judiciary mentioned earlier that such a high level of corruption couldn’t have occurred without the support of various people, according to Reuter’s report. According to Aljazeera, a defendant argued that senior officials associated with the scandal had gone scot-free, while individuals with low-level involvement had been intensely prosecuted by the Judiciary.