Iranian security forces raided the office of Hashem Yekeh Zare on Monday and arrested him on corruption charges, local media reported.
Yekeh Zare was the CEO of Iran Khodro Car Manufacturing company. Several hours earlier Iran's Government spokesperson had announced his dismissal from the position.
Several other senior managers of two major car manufacturing companies "Saipa" and "Iran Khodro" were also arrested on judicial orders.
"Iran Khodro's CEO had unlawfully increased prices of cars,” announced the government.
Corruption watchdog organizations and individuals have recently reported that senior managers of Iranian car manufacturing companies are trying to "bribe parliament representatives and other government officials to maintain their positions."
Iranian state-owned car manufacturing companies are known to be among the most corrupted industries in the country.
According to confidential information received by Avatoday, the regime is arresting low-ranking corrupted officials to hide the bigger corruption cases committed by the regime and its high ranking officials.