Iranian tycoon Babak Zanjani, the country's wealthiest person, has been sentenced to death after being convicted on corruption charges.

Iran's judiciary announced the death sentences for Zanjani and two fellow defendants in Tehran on March 6.

Zanjani came to prominence during the presidency of Mahmud Ahmadinejad for his ability to help Iran evade international sanctions and sell its oil abroad.

He was convicted of fraud and other economic crimes. In addition to execution, he was sentenced to pay restitution to the state for its losses.

He was arrested in December 2013. At the time, his wealth was estimated at $14 billion.

The defendents can appeal the judiciary's ruling.

Based on reporting by AFP and Reuters