Former Head of Zaminbank OJSC Arrested

Baku / 07.07.20 / Turan: The General Directorate for Combating Corruption under the Prosecutor General investigated the appropriation of other people's property by the former management of Zaminbank OJSC.

 The investigation established that during the period of Nadir Ismayilov’s work as chairman of the Supervisory Board of Zaminbank OJSC, the bank’s funds were appropriated in the amount of 16 million manat.

In addition, Ismayilov deliberately falsified the documents and appropriated 145,000 manat belonging to the head of the Baku branch of the bank, Elshan Shirinov.

Ismayilov is charged under Art. 308.2 (abuse of power), 179.3.2 (large-scale misappropriation), 178.3.2 (large-scale fraud), and 320.2 (deliberate use of falsified documents) of the Criminal Code. He is arrested for 4 months.

In order to compensate the damage caused to the state and citizens, work is underway to identify Ismayilov’s property and the circle of persons involved in criminal acts.

Earlier, the General Directorate for Combating Corruption under the Prosecutor General investigated 7 criminal cases against 11 officials of Zaminbank OJSC and provided compensation for damage of 18 million manat.

The license of Zaminbank OJSC was revoked in July 2016. –06D-