MAY 13 2015 (The Conway Bulletin) – The authorities in Azerbaijan questioned businessman Ibrahim Ibrahimov over an outstanding loan from the state-linked International Bank of Azerbaijan (IBA), media reported, the second high-profile Azerbaijani company owner to be hauled into a police station in a week.
Turan news agency reported that Mr Ibrahimov took a loans $57m, but sources in IBA told the news agency that the sum was actually $850m.
Last week police detained Nizami Piriyev, head of Azerbaijani Methanol Company. He was charged with financial fraud. Mr Piriyev is also charged with not repaying bank loans.
Natiq Cafarli, economist and executive director of ReAL opposition movement said in an interview with faktxeber.com that he does not expect the oligarchs to stay in jail for a long time. He said that the government just wants to recover its money.
“The ruling party does not need a lot of news around famous people,” he said. “They will be released soon.”
ENDS
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(News report from Issue No. 232, published on May 20 2015)