Two men, charged with economic "corruption," were executed in Iran on Wednesday, official IRNA news agency reported.

Vahid Mazlumin, known as the "sultan of coins," and his accomplice Mohammad Ismail Qasemi were found guilty of economic crimes and convicted to death sentence by an Iranian court in August.

The ruling was later upheld by Iranian Supreme Court.

Mazlumin and Qasemi were charged with forming "a corruption network, disrupting the country's economic, foreign currency and monetary system by carrying out illegal transactions and major smuggling of foreign currencies and coins," according to Press TV.

A total of 11 more defendants in the case have received jail terms of up to 10 years, said Judiciary Spokesman Gholamhossein Mohseni Ejei.