Former Head of IBA Jahangir Hajiyev Detained

Last night on suspicion of committing fraud and other economic crimes the former head of the International Bank of Azerbaijan (IBA) Jahangir Hajiyev was detained by officers of the Main Directorate for Combating Organized Crime (MDCOC) MIA.

As we learned from sources in law enforcement, against Hajiyev a preventive measure was chosen in the form of arrest for 4 months.

Hajiyev, 53, resigned from his post as head of the IBA on 18 March 2015 "for health reasons".

After this a number of former senior IBA officials and businessmen, who received large loans in the IBA, were arrested. According to unofficial data, the amount of bad loans in the IBA reached 6 billion US dollars.

Hajiyev was called in for questioning, following the October 17 resignation of Eldar Mahmudov from the post of head of the Ministry of National Security. He is a close relative of Mahmudov.  -06D--

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