Twelve defendants in the "case of IBA" released from custody

The prosecutor's office sent the court a recommendation to change the preventive measure of arrest to police surveillance in respect of the 12 defendants in the case "About IBA credits (" IBA ")." Submission was sent  at the petition of investigation organs, said lawyer Kemandar Nasibov. His client Adil Huseynov - the former head of the Dubai branch of "International Bank", was released from custody under police surveillance on May 30 decision of the Narimanov Court. A similar decision was taken in respect of Chairman of the Board of JSC "Isoliths" Mehman Mehdiyev and Executive Director of "Riyad-Farm" Agil Guliyev. According to the public prosecutor, the case against others will be considered on May 31 and June 1st. Among them are businessmen Elkhan Cavad  and  Ratmir Bakirov. According to the lawyer, the cases of all the liberated will be allocated in a separate proceeding, and then continue. They are charged under the following Articles of the Criminal Code: 179.3.2 (embezzlement on a large scale), 308 (abuse of power), 178 (cheating), 179 (misappropriation and embezzlement), 179.2.3 (use of official position), 309 (abuse of power), and 312 (bribery) of the Criminal Code.  They were arrested in different months of 2015.

The arrests of high-ranking officials of the "IBA" and the businessmen who have credit debts to this bank began in connection with the identification of appropriation of funds amounting several billion mantas in mid last year. Among the arrested was a former head of the "International Bank".

Still there is not  official information from the investigation and financial bodies about the number of detainees and the scale of theft. -03B-