Oligarchs Recognize They Are Demanded to Return Loans to International Bank of Azerbaijan

The group of oligarchs prosecuted for non-payment of multi-million dollar loans from the International Bank of Azerbaijan continues to frantically look for resources for that.

Some of them recognize that there are serious problems, but most shy away from contact with the press. One of those who have recognized the de facto ban on leaving the country and the urgent need to return more than 70 million dollars to IBA is Ibrahim Ibrahimov (Nehramli).

The owner of the adventure project Caspian Islands admitted that until May 19, he has to repay the loan, without explaining whether he is able to do so. Although a couple of days ago, he claimed that the loan amount is much smaller and he had no problems and there are no claims against him.

According to unofficial information, another oligarch - the owner Azmeco (methanol plant) Nizami Piriyev was invited to the top, where he was demanded urgently to pay debts of several hundred million dollars. This explains the unexpected decision of Piriyev to hold an urgent shareholding of the company on the London Stock Exchange.

Other creditors of IBA began to urgently sell their property in order to repay the debts. In practice, this will mean growth for proposals for the residential and commercial real estate (many oligarchs built housing of the premium and business class in Baku). At the same time, a number of retail properties of the oligarchs were closed.

According to the site Virtual.org, the head of the Dubai branch of IBA Adil Huseynov has been detained in Baku. Apparently, he is suspected of involvement in financial irregularities at the bank.

As before, the law enforcement agencies do not give comments and make no representations as to what is happening, but it is about the theft of hundreds of millions of dollars. -02D-