The trial of Ramin Isayev, also known as Ramin Ali Hakan, is currently underway in the Baku Court of Serious Crimes. Case no. 1(101) 2048/2024 is being presided over by Judge Faik Ganiyev.

The trial of Isayev, the former CEO of SOCAR AQS, follows a year-long investigation, during which he was arrested and investigated. The initial suspicions of fraud and embezzlement, in the amount of 16 million manats, have since increased more than threefold to the staggering amount of 54 million manats. According to the prosecution, Isayev’s fraudulent activities occurred over several years and consisted of multiple events. He used the proceeds of his embezzlement to finance a luxurious lifestyle that included real estate, cars, and indulgencies such as luxury hotels, expensive flights, and live shows.

In parallel, Azerbaijan is not the only jurisdiction where Isayev has spun his web of fraud and corruption. Currently, Isayev faces legal action in the US amounting to millions of dollars, following a verdict against him in Turkey. New information regarding this international part of Isayev’s fraudulent activities will be uncovered shortly.