Oh no, you're thinking of Iran-Contra, the other treasonous act that Reagan committed involving Iran. OP is talking about the rumored deal Reagan made with Iran wherein Iran would not release the American hostages until after the 1980 election. Coincidentally, the hostages were released on January 20th, 1981, the day Reagan was sworn in.
Sidenote, has anyone seen the Netflix documentary about the octopus murders? I think the proof that Reagan made that deal is at the heart of that conspiracy.
Aw shucks. You know just when you think you hone in on one depraved scandal of Reagan, you realize you're mixing it up with another depraved scandal of Reagan.
I highly recommend watching American Conspiracy on Netflix. The way the CIA and government actually operates is pretty disturbing, but the subject of the documentary is how the justice department stole a software program from a private company and resold it to foreign governments so that it could raise funds to repay Earl Brian, who had provided $40 million to Iran to hold the hostages until after the election.