Baku: The property of Azerbaijani businessman Shahlar Novruzov has been confiscated in Tuapse, Krasnodar Territory, Russia, APA’s Russian bureau reports. The Kuban Arbitration Court has confiscated the assets of Shahlar Novruzov, an Azerbaijani national who was arrested on charges of attempted fraud in the amount of 900 million rubles.

According to Azeri-Press News Agency, the court’s decision has resulted in 100% of the shares of the Tuapse Sea Port and TMKP Enterprise owned by Novruzov, as well as the property of Temryuk Cargo Terminal and “Dar Fruit” LLC, being transferred to state ownership. The investigation maintains that these assets were removed from state ownership through illegal transactions starting in 1994. Consequently, the court has annulled all transactions related to the removal of these objects from state ownership.