Prosecutors Arrest Two Entrepreneurs for Credit Fraud
Baku / 07/31/18 / Turan: A criminal case under Article 195.2 (receipt of an illegal loan or misuse of a loan with subsequent damage in a large amount) has been instituted against Vagif Mammadov and Rahman Gulmammadov, both arrested.
The General Prosecutor's Office reported on Tuesday that the case is being conducted in the Main Department for Combating Corruption.
The criminal cases are initiated on the basis of materials received from the Financial Market Supervision Authority.
Vagif Mammadov is the Chairman of the Board of the Goychay Cognac Factory OJSC. In 2013 he, being the director of the firm Nijat, took a loan and presented false information to Tekhnika Bank about his solvency. The bank issued him a loan in the amount of 150 thousand manat. These funds were spent not for their intended purpose, but for personal needs.
Rahman Gulmammadov is the founder and director of LLC KR in the field of agriculture. At various times he took loans from Credo Bank, the total amount of which was 850,000 manat. Of this amount, 347,872 manat was misused. -05D-
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- 31 July 2018 11:36
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