Mahafarid Amir-Khosravi was executed at Tehran's Evin prison on Saturday.
Amir-Khosravi was convicted over a scam which came to light in 2011 and
involved using fake documents to obtain credit, leading to the embezzlement of
around $2.6bn (£1.5bn).
The case forced the then government to deny its members had been
involved.
The case broke in September 2011 when an investment firm was accused of
forging documents to obtain credit from at least seven Iranian banks over a
four-year period.
The money was reportedly used to buy state-owned companies under the
government's privatisation scheme.
