The Prosecutor General's Office of Azerbaijan, in cooperation with the Financial Markets Supervision Authority and the Deposit Insurance Fund, continues to implement consistent measures aimed at prosecuting officials of banks being liquidated who have committed corruption offenses.
The Prosecutor General's Office told APA that the Anti-Corruption Department under the Prosecutor General has concluded the investigation into the illegal acts of Elmikhan Nabiyev, former chairman of the Management Board of AtraBank, which is in the process of liquidation.
Investigation revealed that in order to prevent the bank’s license from being annulled, Nabiyev attempted to create the impression of having the total capital required by the Central Bank by setting up nominal private enterprises formalized in the names of his acquaintances and arranging Illegal loans in their names in the amount of 8.405 mln manats. He was also found to have arranged and appropriated loans in the amount of 809,000 manats in the names of different individuals.
Nabiyev is charged under Article 179.3.2 (appropriation and squander in large proportions) and Article 308.2 (causing heavy consequences by abusing official powers) of the Criminal Code of Azerbaijan. The criminal case filed against him has been sent to the Baku Court of Grave Crimes.
The Anti-Corruption Department is investigating illegal actions of officials of Bank Standard CJSC, ZaminBank OJSC, Bank of Azerbaijan OJSC, GanjaBank OJSC, as well as officials of other liquidated banks, and necessary measures are being taken in cooperation with the Financial Markets Supervision Authority and Deposit Insurance Fund to ensure the payment for the caused damage.