Jahangir Hajiyev Sentenced to 15 Years Jail Term

Today Baku Serious Crimes Court read out a sentence on the former head of OJSC International Bank of Azerbaijan Jahangir Hajiyev and seven other people. The court sentenced Hajiyev to 15 years in prison.

Hajiyev’s mate, former director of the walnut plant Azad Javadov was sentenced to 10 years 11 months in prison, and was taken into custody in the courtroom.

Yusuf Alekperov was sentenced to 8.5 years, Ibrahim Huseynov – to 8 years, Mamed Jahangirov – to 7.5 years, Kenan Orujov – to 7 years 23 days, Anar Sultanov - to 7.5 years, and Ilgar Abdullayev – to 6.5 years of imprisonment.

Recall that the defendants were charged under articles 179.3.1, 179.3.2 (embezzlement on a large scale by an organized group), 308.2 (abuse of power, resulting in grave consequences), 309.2 (abuse of power, resulting in grave consequences), 313 (forgery), 228.1 and 228.4 (illegal purchase, transfer, selling, storage, transportation or carrying of fire-arms, accessories to it, supplies) of the Criminal Code.

Hajiyev resigned as head of IBA on 18 March 2015 "for health reasons". After this a number of former high-ranking employees of IBA and businessmen who had received large loans from the bank were arrested. According to unofficial data, the amount of bad loans in IBA reached 6 billion dollars. Hajiyev himself was summoned for questioning, following the resignation of the head of MNS and his close relative Eldar Mahmudov on October 17. On December 5 Hajiyev was arrested. According to the lawyer, he was charged with the assignment of 42 million manat, which was returned to the state in the form of shares of the bank for 80 million manat. -16d-