The Baku Court of Grave Crimes chaired by Judge Rasim Sadykhov held another hearing on the case of 37-year-old Yasin Akhmedov, the head of 299 companies created for the purpose of illegal enrichment, Oxu.Az reports.
Yasin Akhmedov, one of the heads of 299 shell companies created for the purpose of money laundering, was arrested while on the wanted list. He is accused of involvement in the theft of large sums of public funds through companies under his control.
According to the Financial Monitoring Center, millions of manats were transferred to foreign accounts through the companies of Akhmedov and his accomplices under the guise of purchasing some “service devices”, but no real transactions were carried out. The only goal was to legalize criminal proceeds.
A criminal case against Yasin Akhmedov under Article 179.4 (large-scale embezzlement) was initiated in July 2024 by the Anti-Corruption Department under the Prosecutor General. Akhmedov was hiding from the investigation and was put on the wanted list. He was detained several days ago, and a preventive measure in the form of arrest was chosen until the end of January 2025.
The investigation revealed which officials the companies used for criminal purposes worked with. The names of the officials who artificially ensured victory in tenders for “their” companies and then appropriated the budget funds transferred to them appear in the case materials.
The listed persons transferred budget funds to 299 companies at inflated prices, allegedly for the provision of services. In total, over 5 million manats were transferred from government agencies, of which just over 1 million was divided between officials and entrepreneurs.
