The Anti-Corruption Department under the Prosecutor General has investigated the illegal acts of “Çudo Peçka” founder Chingiz Jalilov, who, in collaboration with an official of the bank, embezzled a large amount of loan he had taken out from a bank under the name of various individuals and legal entities, the Prosecutor General's Office told APA.
Investigations have revealed that Chingiz Jalilov, founder of “Çudo Peçka” LLC and “ÇP Aqro” LLC, having conspired with former Director of “Bank Standard” Board of Directors Kriman Salim Eldarovich, took a loan in the amount of 21,874,000 manats at the expense of large funds that entered the bank from various sources, including from external and internal investors and deposits, without the consent of the Supervisory Council of the bank by pledging properties, the prices of which were artificially inflated. He specified the purpose of the loan as the alleged purchase of a summer residence, the repair of an apartment, the purchase of land, etc. in his name, in the name of close relatives, the names of different persons working in the societies he directed. Then, on the basis of these loan agreements, he pretended that he owed the loan to the bank on a large scale, restructured the loan several times (changing the terms of the loan or his payment), thereby sharing the 13 million 962 thousand manats he had embezzled with Salim Kriman.
Jalilov was put in pretrial detention under the article of the Criminal Code of Azerbaijan #179.3.2 (Assignment or waste in a large amount, plunder of property entrusted to guilty by another person) and #308.2 (Abusing official powers which entailed heavy consequences) as there were revealed grounds for suspicions on spending of loans for his own purposes with officials of the bank.
An investigation is underway to identify the other offenders.