Ex-chairman of Azerbaijan's bank accused of embezzlement (UPDATE)
First version posted on 15:03
BAKU, Azerbaijan, July 7
Ex-Chairman of Azerbaijan's Zaminbank JSC's Supervisory Board Nadir Ismayilov has been accused of appropriating more than 16 million manat ($9.4 million), Trend reports referring to the Prosecutor General's Office's press service.
Anti-Corruption General Directorate with the Prosecutor General of Azerbaijan investigated the fact of appropriation of another property as a result of abuse of authority by Zaminbank JSC officials.
During the investigation, reasonable suspicions arose on use of various corruption schemes and appropriation of bank loans in the amount of more than 16 million manat, allocated for legal entities and individuals, with the help of the bank’s other officials by the former chairman of the liquidated Zaminbank JSC’s Supervisory Board Nadir Ismayilov, while worked still worked for the bank.
The investigation has also established that Ismayilov, deliberately using fictitious documents, appropriated 145,000 manat ($85,290) belonging to Elshan Shirinov, director of the bank’s Baku branch.
Ismayilov was charged under the articles 308.2. (abusing official powers entailing grave consequences), 179.3.2. (misappropriation in large-size), 178.3.2. (swindle with causing damage in the large size) and 320.2. (use of obviously counterfeit documents) of the Criminal Code of the Republic of Azerbaijan. By the decision of the Binagadi district court, a preventive measure in the form of arrest for a period of four months was chosen in his regard.
In order to ensure compensation for damage caused to the state and citizens as a result of these illegal actions, necessary investigative and operational measures are ongoing to identify property belonging to Nadir Ismayilov, as well as to determine the circle of other persons involved in the committed crime.
To date, the Anti-Corruption General Directorate, in connection with the unlawful actions of Zaminbank JSC officials, as a result of the investigation of 7 criminal cases against 11 people, has ensured compensation of damage in the amount of more than 18 million manat ($10.5 million) to the aggrieved persons. At various times, these criminal cases were sent to the courts for consideration, and on the basis of court sentences, the accused persons were sentenced to various punishments.
Zaminbank JSC was liquidated in 2016.
(1 USD = 1.7 AZN on July 7)