| Publisher | Organized Crime and Corruption Reporting Project (OCCRP) |
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| Publication Date | 2017 |
| Content Type | Overview |
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Summary: A complex scheme on money laundering involving the ruling elite in Azerbaijan which handled around $2.9 billion over a two-year period was uncovered through a joint investigation by the Organized Crime and Corruption Reporting Project (OCCRP). Background and further information: The OCCRP reports that from 2012 to 2014 several member of Azerbaijan's ruling elite used a secret slush fund to pay off European politicians, buy luxury goods, launder money and otherwise benefit themselves. Around €2.5 billion in transactions were handled by the so-called 'Azerbaijani Laundromat'. The records also show that Danske Bank turned a blind eye to transactions that should have raised red flags. During this period, the country's government threw more than 90 human rights activists, opposition politicians, and journalists into prison on politically motivated charges. Recipients of the money include at least three European politicians, a journalist and businessmen who worked to improve the image of the regime and the country abroad. In some cases, these prominent individuals were able to mobilize important international organizations to score PR victories for the regime. The recipients also included prominent Azerbaijanis with government positions or connections. These include the family of Yaqub Eyyubov, Azerbaijan’s first deputy prime minister, and Ali Nagiyev, a man responsible for battling corruption in Azerbaijan. As it turns out through this investigation, he and his family were major users of the system. |
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| Source Link | https://www.occrp.org/en/azerbaijanilaundromat/ |
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| Subject Categories | Justice and Home Affairs |
| Subject Tags | Corruption | Fraud | Mismanagement, Organised Crime |
| Keywords | Money Laundering |
| Countries / Regions | Azerbaijan |
