Former bank chairman sentenced to 6.5 years in prison

The ex-chairman of the board of liquidated DekaBank OJSC Niyazi Veliyev was sentenced to 6 years and 6 months in prison. Report informs, the case was heard in the Baku Court of Appeal presided over by Judge Emin Mehdiyev. He was accused of embezzling someone else’s property while working as chairman of the bank’s board of directors and was found guilty under articles 178.2.2 (fraud committed repeatedly), 178.2.3 (fraud committed by a person using his official position), 178.2.4 (fraud committed causing significant damage), 179.3.2 (misappropriation or embezzlement committed by an organized group on a large scale) of the Criminal Code of Azerbaijan.

On July 5, 2018, the Baku Court of Serious Crimes imposed a suspended sentence on N. Veliyev under articles 179.3.2 (embezzlement and embezzlement on a large scale), 178.3.2. (fraud involving major damage), 308 (abuse of official powers) and 313 (forgery), and he was released in the courtroom. He was accused of misappropriating funds and issuing loans in the names of individual individuals.

Dissatisfied with the verdict, the state prosecutor appealed to the Supreme Court, which accepted the cassation appeal and sent it to the Baku Court of Appeal.

The license of DekaBank OJSC was revoked in July 2016. According to the materials of the criminal case, the total damage amounted to 5 million manats.

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