Investigation revealed new multi-million dollar currency fraud: there are arrests

Based on the data of the State Customs Committee of Azerbaijan on the failure of some business entities exporting various types of products to foreign countries to return funds in the relevant currency to the Republic of Azerbaijan, the prosecutor’s office has opened criminal cases and is conducting a preliminary investigation, oxu.az reports with reference to the press service of the Prosecutor General’s Office. During the investigative activities, reasonable suspicions arose that contracts for the purchase and sale of agricultural products were concluded between legal entities registered in Azerbaijan and companies in foreign countries at different times, and large incomes received as a result of these activities were not returned to authorized bank accounts in the country, and there was also tax evasion.

In this regard, a number of officials have been brought to criminal responsibility. According to the State Customs Committee, the volume of unreturned foreign exchange earnings is estimated at tens of millions of US dollars.

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