Prosecutor General"s Office identifies small scams in the construction business
BAKU/03.04.14/Turan All wider range of construction companies whose management YTD prosecuted under article 178 (cheating) and 179 (embezzlement).
According to the press service of the Prosecutor General of the Republic, the prosecution was initiated next Office for Combating Corruption under the Prosecutor General of Azerbaijan. Allegations of fraud and official forgery presented to the responsible employees of three housing and construction companies, Shaig, Steele-Tikinti and Universal Service. The case is prosecuted for several episodes.
Untitled builders charged with resale of citizens on the basis of a number of false contracts 36 apartments, as well as consumer fraud with confidence. Proven illicit profits members of the criminal transaction was 1,566,511 manats in one and 19,178 manat - in another case. Under consideration are a few complaints. Damages in the amount of 1.36 million manat have already been reimbursed, and the case was sent to the Baku Court of Grave Crimes.
This is not only message from Prosecutor General's Office from the beginning of the year to prosecute not the biggest subjects of the construction business. In February, Chief Directorate for Combating Corruption under the Prosecutor General initiated two more cases - against the management of the construction company Azizbey-CM and RT LTD in the amount of AZN 1,043,584 and AZN 855,000, respectively.
A large number of cases where developers sell one apartment several trusting people, shows that government agencies deliberately allowed to drift this segment of law. In the courts in similar cases accused the owners of building structures have repeatedly stated that they are forced to engage in fraud due to the fact that they pay bribes to officials for a building permit, for the allocation of land for the permission for construction of buildings exceeding standard heights, for the act of delivery of housing in operation and other preferences. - 17D-
Economics
-
The European Bank for Reconstruction and Development (EBRD) has released its Transition Report 2024-25 for Azerbaijan, praising notable achievements in macroeconomic stability and the banking sector. However, the report underscores persistent vulnerabilities stemming from the country’s dependence on hydrocarbons and provides a detailed outlook for its oil-rich economy.
-
The Azerbaijan Caspian Shipping Company (ASCO) announced the commissioning of its newly built vessel, "Bergyushadchay", on November 28. Constructed at the Zykh Ship Repair and Construction Yard, the vessel is now part of ASCO's Caspian Sea Oil Fleet as an auxiliary ship, according to the company's statement.
-
Azerbaijan has introduced new rules to simplify the leasing of agricultural land on liberated territories, aiming to attract investments and enhance agricultural productivity, according to a presidential decree issued on November 27, 2024.
-
The Asian Development Bank (ADB) allocated $10.5 million to support the retail sector in Azerbaijan, marking another step in its ongoing support for the country’s economic modernization. These investments align with Azerbaijan's broader ambitions to diversify its economy and strengthen small and medium-sized enterprises (SMEs), which are key pillars of sustainable growth.
Leave a review