Bankrupt Debut Bank - extreme in the chain of financial crime

Main Department for Combating Corruption, acting under the Prosecutor General AR revealed numerous cases of embezzlement totaling 2.9615 million manat. And this is not the limit.

As stated in the General Prosecutor's Office, the National Entrepreneurship Support Fund (NESF) transferred funds to bankrupt JSC Debut Bank (owned by the MP from Kurdamir Farhad Garibov). The money was transferred to bank accounts in 2006-2008, when it was an authorized credit institution of NFES. Concession loans did not reach the destination - bank officials, abusing official position, took fake business plans and accounting documents of various businesses and individuals.

The guilt of the responsible bankers has been proved. The criminal case is under articles 179.3.2 (embezzlement on a large scale), 195.2 (illegal loan or use it for other purposes with big damage), 308.2 (abuse of power, resulting in grave consequences) and 313 (forgery).

The investigative activities are in progress, the General Prosecutor's Office reported. According to experts, it is not only the work of the bank employees, but it is a chain of financial and economic crimes with corruption component. Practice shows that in Azerbaijan the circle closes just on common performers. -17D-