Chairman of Board Damages Company

Officers of LLC Astara Kredit Ittifagi damaged the company at tens of thousands of manat.

According to the report of the Department to Combat Corruption under Prosecutor General of Azerbaijan, the investigation of the criminal case against the Chairman Osman Nazarov has been completed. Abusing official powers, the man pledged property of different people on mortgage contracts in a number of credit institutions and banks.

So, pledging property of citizens in LLC Icrachi Kredit Agentliyi, he took a low interest loan of $ 160,160 manat, while consciously indicating false information in the documents. Thereby he misappropriated 76.7 thousand manat from that amount. He did the same scam in the Lankaran branch of the bank Nikoil, embezzling 17,000 of the 39.4 thousand manat borrowed at different times in the names of different people.

Moreover, Nazarov is suspected of tax evasion of 4.6 thousand manat and of other fraud.

A criminal case has been instituted on eight articles of the Criminal Code of the Azerbaijan Republic. During the investigation part of the damage was repaid.

The case was submitted for consideration to the Lankaran Court of Grave Crimes. --17D-