Investigation Unveiled Primary Figures of Embezzlement in International Bank

Some episodes of the criminal case of theft in the International Bank of Azerbaijan (IBA) are completed. It was found that the head of the bank in 2001-2015 Jahangir Hajiyev entered into a criminal conspiracy with a group of persons and carried out a number of illegal actions of fraudulent nature, said the Interior Ministry spokesman.

So, large sums were transferred and loans were granted on Hajiyev’s orders to the bank cards of his family members and other people.

In this way, different branches of IBA issued loans totaling more than 47 million AZN. The total amount of loss caused to the bank was 211 million 597 thousand AZN.

On these facts criminal charges were brought against Jahangir Hajiyev and seven others, and his wife Zamira Hajiyeva was declared wanted.

Investigations on a number of facts are complete and will be sent to the court soon.

The proceeding on the case of funds transferred to over 100 foreign companies under the guise of different projects has been separated, the report said.

Note that the total amount of the IBA loss is estimated at 6 billion AZN, of which the authorities could return only 400 million after Hajiyev was arrested.

The embezzlement of huge sums involved many pro-government businesses, which included a Member of Parliament, the author of a crazy idea of ​​building artificial islands in the Caspian Sea, and many others.

The head of IBA was arrested in December 2015. Before that he returned IBA shares in the amount of 47 million AZN to the state.

According to unofficial reports, he invested up to 200 million USD in two companies in Dubai and tens of millions of dollars in real estate in the West. -02D-