Javad Marandi case: Iranian-born millionaire's business is suspected of laundering money from Azerbaijan

Javad Morandi, a British millionaire of Iranian origin and a knight of the Order of the British Empire for his business and philanthropic endeavors, denies any involvement in the criminal case brought against him, the BBC article says. The National Crime Agency (NCA) of Great Britain discovered that some of Marandi's foreign assets played a significant role in a complex money laundering scheme involving an influential Azerbaijani oligarch.

The investigation, which began in 2017 and became known as the "Azerbaijani Laundry," exposed a massive money laundering operation in which Azerbaijani elites siphoned off around $3 billion from the country's economy. The funds were then used for personal gain and even bribing European politicians.

Court documents revealed that money from the Azerbaijani scheme was transferred to two accounts associated with one-day companies registered in Glasgow, which were linked to Javanshir Feyziev and Javad Marandi. The NCA traced the flow of cash through these accounts after it was initially sent from the Baku-based firm Baktelekom, which had similarities to the state-owned company Aztelecom but had no real activity.

Companies with the name Avromed, one of which Marandi was the primary beneficiary of, played a central role in the money laundering operation. Avromed was registered in the Seychelles in 2005. Marandi's lawyers initially argued for their client's anonymity, claiming that law enforcement agencies had no interest in him, and revealing his name could violate his privacy and reputation.

However, following the arrest of Feyziev's assets in London, the BBC and the London Evening Standard argued that it was in the public interest to disclose Marandi's connection to the corruption investigation. After a lengthy legal battle, the judge ultimately decided to reveal Marandi's involvement based on the principle of open justice.

Duncan Hames, the policy director of Transparency International UK, described the disclosure as a "political bombshell." He raised concerns about the origin of the money and the ease with which such funds could end up with political parties without thorough source verification. The Conservative Party responded by stating that they only accept donations from authorized sources listed on the British electoral register or registered companies in Britain.

Although the NCA investigation focuses on Marandi's past transactions, it does not impact his British businesses, including the fashionable brand Conran Shop, Anya Hindmarch Ltd (an expensive accessories business), or his involvement with the Marandi Foundation, which supports charities associated with the Prince and Princess of Wales.