Large-scale scheme for non-return of foreign currency earnings to Azerbaijan has been exposed: there are arrests

Officials who failed to return foreign currency earnings in the amount of over 84 million manats from the export of agricultural products to the country have been exposed by law enforcement agencies of Azerbaijan, oxu.az reports with reference to the press service of the General Prosecutor’s Office of the Republic.

Based on the materials received from the State Customs Committee on the non-return of foreign currency funds to Azerbaijan by some business entities engaged in foreign economic activity, criminal cases have been initiated by the prosecutor’s office, and a preliminary investigation is underway.

During the investigation, reasonable suspicions arose regarding the conclusion at different times of contracts between legal entities registered in Azerbaijan and foreign companies on the purchase and sale of agricultural products and the failure to return large amounts of income received from this activity to authorized bank accounts in the country. In this regard, a number of officials have been brought to criminal responsibility.

Thus, in a criminal case initiated by the Surakhan District Prosecutor’s Office under Articles 208.2.1, 208.2.2 (failure to return foreign currency from abroad by a group of persons by prior conspiracy in a large amount) and 308.2 (abuse of office, resulting in grave consequences) of the Criminal Code, it was established that Fruit Yard LLC and Fruit City Group failed to return a total of more than 18.5 million dollars (about 31.5 million manat) to the account of an authorized bank in Azerbaijan.

This post is also available in: Russian