Witnesses in case of ex-head of International Bank of Azerbaijan talk frauds with loans

Witnesses in case of ex-head of International Bank of Azerbaijan talk frauds with loans

Baku, Azerbaijan, April 9


The hearing on the criminal case of former chairman of board of the International Bank of Azerbaijan Jahangir Hajiyev, accused of embezzlement, has recently continued at the Baku Court of Heinous Crimes, Trend reports.

The criminal case also concerned Hajiyev’s relative Ismayil Idayatzade, former MP Dunyamin Khalilov, Jamal Hasanov, Sarhan Rasulov, Natig Imanov, Samir Hajiyev, Tabriz Abdulgamidov, Mahir Gafarov, Sadikh Murtuzayev, Tarlan Maharramov, Fakhraddin Heybatov, Ramin Ahmadov, Fariz Muradov, Salahaddin Gadirov, Erkhan Javad, Arif Ramazanov, Navai Shirinov, Svetlana Asadullayeva, Arif Madatov, Adil Mikayilov and Ramiz Karimov accused of embezzlement.

Elshan Mammadzade gave testimony at the trial, chaired by Judge Faig Ganiyev.

Mammadzade said that he currently works as director of the cashless settlement department in the International Bank.

"The loans were sometimes allocated in the bank upon someone’s order,” he added. “During that period I was a member of the creditors' committee. I was ordered to issue a loan to the companies belonging to Dunyamin Khalilov - Sabail Mebel Ltd. and others.”

“However, the loans were issued on the basis of an agreement,” Mammadzade said. “No illegal actions were taken. But there were exceptions when certain irregularities were observed during the issuance of loans. I did not oppose this because it was an instruction of the management. Akif Aliyev gave the main instructions. He said that this is the management’s order but I don’t know whom he specifically meant.”

It became known that the witness worked in various positions in the bank without higher education.

Akif Aliyev also gave testimony as a witness. Aliyev said that from 1990 till 2017 he worked in the bank in various positions, from 2001 to 2011 he worked as chairman of the creditors' committee, from 2011 to 2015 - as director general of the bank and then as chairman of the problem loans committee. Aliyev is currently unemployed.

He said that during his work in the committee of creditors, the highest limit was 2.4 million manats.

“The loans were issued upon the order of the bank’s board,” Aliyev said. “The bank financed various projects, most of the projects were controlled by Dunyamin Khalilov. He appealed to us for obtaining loans. Jahangir said that Dunyamin Khalilov has a project which should be financed. We just fulfilled this order.”

According to the official information, reasonable suspicions were revealed during the investigation that the contracts for the purchase and sale of promissory notes worth $3.4 billion and 987 million euros (at the then rate of 3.8 billion manats) and illegal bill transactions were conducted upon the order of Jahangir Hajiyev, who was the chairman of the board of the International Bank of Azerbaijan in 2001-2015.

During the investigation, reasonable suspicions were also revealed that Hajiyev’s acquaintance Dunyamin Khalilov, 20 more people, as well as other people caused damage to the International Bank of Azerbaijan, misappropriating 4.7 billion manats and that in 2011-2014, Hajiyev avoided paying taxes of Aztorg LLC, which was actually managed jointly with Khalilov, to the budget in the amount of 1,752 manats.

Hajiyev was previously sentenced to 15 years, Dunyamin Khalilov to 13 years and Ismail Hidayatzade to seven years in prison upon the decision of the Baku Court of Heinous Crimes.

Khalilov’s term of sentence was reduced from 13 years to 12 years and nine months upon the decision of the Baku Court of Appeal. The Supreme Court reduced Hidayatzade’s term of sentence to five years.

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