Former head of Baku Steel Company sentenced to 14 years in prison

Former head of Baku Steel Company Rasim Mammadov was sentenced to 14 years in prison. According to the report.az news agency, the verdict was announced at a trial chaired by a judge of the Baku Court for Grave Crimes Leyla Mammadova-Askerova.

Baku Steel Company LLC was registered in August 2009. Rasim Mammadov was the Chairman of the Supervisory Board of the company until January 28, 2021.

R. Mammadov is accused of abuse of office, providing deliberately false information, including overstating financial indicators, creating companies on behalf of third parties, selling Baku Steel Company products to these companies at lower prices, spending Baku Steel Company products on their own facilities and Living spaces.

According to the indictment, Rasim Mammadov is thus accused of misappropriation and embezzlement of a total of 55 million manats. He was charged under articles 179.4 (misappropriation or embezzlement, committed with causing damage on an especially large scale), 193.3.2 (illegal business with receipt of income on an especially large scale), 308.2 (abuse of official powers, entailing grave consequences) and 313 ( official fraud) of the Criminal Code of the Republic of Azerbaijan.

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