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Heads oftwo branches of Royal Bank arearrested
Office to Combating Corruption under the Prosecutor General has revealed the fact of embezzlement more than 1.5 million manat by officials in the commercial bank "RoyalBank". Leaders of the two branches of the bank liquidated last summer, were arrested, according to the press service of the Prosecutor General Office.
The investigation revealed large scale misappropriation by the officials of the “RoyalBank.” Specifically, the head of the Tovuz branch, Adalat Museibov, in a criminal conspiracy with Jam Ali Mohammed Hassan, the chairman of the supervisory board of "RoyalBank", used the funds of the State Agency for agricultural credits.
In particular, they issued fictitious loans in the name of Nizami Garayev, Seyfaddin Abbasov and Isfendiyar Museibova, and 400,000 manat were illegally taken from the offices of the bank and misappropriated.
Similarly ere misapprprated funds in the Ganja branch of the bank, led by Anar Tagiyev. Fictitious credits amounting 1,120,000 manats weeissued; if this sum the acctaully received 67,000 manat, the remaining 1 million 53 thousand manat were misapprprated.
Museibov and Tagiyev have been brought to trial under Article 179.3.2 (misappropriation and embezzlement on a large scale), they were arrested.
However, the report does not indicate whether Jam Ali Mohammed Hassan ( according to some informaton, a British citizen) has been brought to trial; his name appears in the machinations of both branches. -16D06-
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