Six people involved in Azerbaijani Int’l Bank fraud case released

Six people, earlier arrested under the fraud case over the International Bank of Azerbaijan, have been released, the lawyer Vugar Babayev told Trend May 31.

Among them are the director of the City Developer LLC Ratmir Bekirov, director of the Inter Glass JSC Fariz Muradov, and Jamal Hasanov, a director at a company included in the General Construction group of companies.

All three were accused of not repaying their loan debts to the International Bank of Azerbaijan.

The preventive measure in the form of arrest with respect to all three persons has been canceled and a preventive measure in the form of transfer under police surveillance has been chosen.

Former director of the Dubai branch of the International Bank of Azerbaijan Adil Huseynov, CEO of the Riyad-Farm Agil Guliyev, and chairman of the board of Mingachevir Izolit OJSC Mehman Mehdiyev were also released.

A preventive measure in the form of transfer under police surveillance was also chosen with regard to them.

Earlier, former senior officers of the International Bank of Azerbaijan (IBA) and the entrepreneurs who have taken big loans from the bank and have not repaid them, were arrested.

The arrested are the former director of the IBA central office Ilgar Abdullayev, former director of the IBA transport office Kanan Orujov, the director of the IBA Dubai branch Adil Huseynov, Director General of the Inter Security Ltd. Ibrahim Huseynov, Chairman of the Supervisory Board at Azerinshaatservis Ltd. Arif Hasanov, Deputy Director of Trek Invest JSC Ali Alishov, who is the founder of the Azerinshaatservis Ltd., Director of the Inter Glass JSC Fariz Muradov and several others.

A criminal case was filed against IBA under article 178 (fraud) and other articles of the Criminal Code.

The former IBA head Jahangir Hajiyev was also arrested.

Source: Trend