Ramin Isayev (Ramin Ali Hakan), the former CEO of SOCAR AQS will stand trial in the Baku Serious Crimes Court. Isayev was arrested a year ago in 2023, following serious allegations of embezzlment, fraud and financial misconduct.

Now, following an extensive investigation, the Anti-Corruption General Directorate withthe Prosecutor General’s Office has decided to push forward and send the case to trial, after ample evidence was collected against Isayev. Isayev was initially arrested and accused of crimes according to Article 179.4 (embezzlement, particularly on a large scale) of the Criminal Code. He was accused of embezzling 16 million manats. During the investigation, the evidence against Isayev piled up and additional charges were added. It turns out that Isayev is suspected to have comitted embezzlment and fraud on a much broader scale – 54 million manats, which is 4 times the initial amount he was accused of stealing.

Isayev will stand trial based on the initial charges according to Article 179.4 (embezzlement, particularly on a large scale). In addition, he will also be charged with money laundering, according to Article 193-1.3.2 (legalization of money obtained through crime).

Isayev’s trial commences on 29/7/24. Stay tuned for developments as the trial progresses