One more businessman arrested over failing to pay overdue loans in Azerbaijan

18:08 7 Avqust 2015
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[ 07 August 2015 19:05 ]

Baku – APA. One more businessman arrested over failing to pay credit debts to the International Bank of Azerbaijan.

Lawyer Adem Mammadov told APA that two months ago Chairman of the Board of Mingachevir "Izolit" OJSC, Mehman Mehdiyev faced charges under article # 178 (fraud) of Criminal Code and was sentenced to 4-month pre-trial detention. Main Department for Combating Organized Crime is investigating his case.

 

Mammadov said that Mehdiyev took out $ 30 million loan from the International Bank of Azerbaijan. “My defendant paid of $ 17 million of the loan, but failed to pay remaining $ 12 760 000 loan. He mortgaged the property in exchange for the debt,” he said.

 

“Aznews.az” firstly reported about the arrest of Mehdiyev.

 

A group of businessmen was detained over large amount of credit debts to the International Bank of Azerbaijan. Famous businessmen Nizami Piriyev, Haji Ibrahim Nehremli and others were among them.

 

The aforementioned businessmen also told journalists that they were released after paying off the debts.

 

 


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