Unveiled criminal wrongdoings of some bank administrators in Azerbaijan

Baku. 8 February. REPORT.AZ/ Azerbaijan Deposit Insurance Fund (ADIF), acting as a liquidator and manager of banks with canceled licenses and those announced bankrupt by court decisions, has revealed some earlier criminal wrongdoings by some top managers of the banks under the control.

Report informs, ADIF’s statement says.

According to information, some managers of currently under-liquidation banks were engaged in service forgery, abuse of power, appropriation, fraudulence.

Thus, they directed only small part or didn’t directed at all the funds obtained from sale of customers’ properties to payment of their credit debts, registered numerous fake loan agreements with forged signatures of customers, performed as guarantor in many deals to obtain money, thus caused significant damage to the banks.

Appropriate materials related to this have been gathered and sent to Anti-corruption Main Department under Prosecutor General of Azerbaijan.