Court in Baku issues verdict for ex-head of International Bank of Azerbaijan (UPDATE)

Details added (first version posted on 13:57)

Baku, Azerbaijan, Sept. 5

By Samir Ali - Trend:

Another hearing on the criminal case of former chairman of the board of the International Bank of Azerbaijan Jahangir Hajiyev, his relative Ismayil Hidayatzade, former MP Dunyamin Khalilov and other people accused of embezzlement, was held in the Baku Heinous Crimes Court on Sept. 5, Trend reports.

The verdict was read out during the trial chaired by judge Faig Ganiyev.

Hajiyev has been sentenced to 16,5 years including the previous sentence, Khalilov – to 14,5 years including the previous sentence while Hidayatzade – to 5,5 years including the previous sentence, upon the verdict of the court.

According to the verdict, suspended sentences were imposed on Sarkhan Rasulov, Natig Imanov, Samir Hajiyev, Tabriz Abdulhamidov, Mahir Gafarov, Sadikh Murtuzayev, Tarlan Maharramov, Fakhraddin Heybatov, Ramin Ahmadov, Fariz Muradov, Salakhaddin Gadirov, Erkhan Javad, Arif Ramazanov, Navai Shirinov, Svetlana Asadullayeva, Arif Madatov, Adil Mikayilov and Ramiz Karimov.

Earlier, the state prosecutor demanded 17 years of imprisonment for Jahangir Hajiyev, including the previous sentence, and 15 years and 9 months for former MP Dunyamin Khalilov, also including the previous sentence.

The prosecutor demanded six years of imprisonment for Ismayil Hidayetzade, and conditional punishment in relation to other defendants who had bank accounts opened under their name, from which millions of manats were subsequently withdrawn - Jamal Hasanov, Sarkhan Rasulov, Natig Imanov, Samir Hajiyev, Tabriz Abdulhamidov, Mahir Gafarov, Sadikh Murtuzayev, Tarlan Maharramov, Fakhraddin Heybatov,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 Mikailov and Ramiz Karimov.

According to official information, during investigations there were reasonable suspicions that contracts for the purchase and sale of promissory notes in the amount of $3.4 billion and 987 million euros (at the then exchange rate - 3.8 billion manats) were concluded with some legal entities in various countries and illegal transactions were carried out by using promissory notes in 2001-2015 upon Jahangir Hajiyev’s instructions, who was the chairman of the Board of the International Bank of Azerbaijan.

Moreover, there were reasonable suspicions that Khalilov, 20 more people, as well as other people misappropriated 4.7 billion manats through illegal financial transactions and the issuance of illegal loans.

The Baku Heinous Crimes Court previously sentenced Hajiyev to 15 years in prison, Khalilov to 13 years and Hidayetzade to 7 years in prison.

Khalilov’s sentence was reduced from 13 to 12 years and 9 months by a decision of the Baku Court of Appeals; Hidayatzade’s sentence was reduced to five years by the Supreme Court.

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