Padideh Shandiz International Tourism Development Company (known as Padideh Shandiz، پدیده شاندیز) is an Iranian private

joint-stock A joint-stock company is a business entity in which shares of the company's stock can be bought and sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their shares (certificates of ownership). Shareholders are ...

holding company A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...

active in restaurants, tourism and construction.

Controversy

The company behaves like a

public company A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (l ...

by selling stocks despite being a

. Its share price jumped from 2,000 to 100,000 Rials from 2009 to 2014. In January 2015, a prosecutor in

Mashhad Mashhad ( fa, مشهد, Mašhad ), also spelled Mashad, is the List of Iranian cities by population, second-most-populous city in Iran, located in the relatively remote north-east of the country about from Tehran. It serves as the capital of R ...

accused the company of a "

fraud In law, fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law (e.g., a fraud victim may sue the fraud perpetrator to avoid the fraud or recover monetary compens ...

" worth $34.3 billion. Although the allegation was denied by the company's chairman, it resulted to a 20% share price value drop. The company is currently controversially under investigation by

Iranian Judiciary A nationwide judicial system in Iran was first implemented and established by Abdolhossein Teymourtash under Reza Shah, with further changes during the second Pahlavi era. After the 1979 overthrow of the Pahlavi dynasty by the Islamic Revol ...

. The company is allegedly manipulating the shares.

Padideh uses massive

Controversy

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