In Azerbaijan 25 criminal cases concerning the activity of bank employees were opened, Head of the Department for Work with Documents and Citizens' Inquiries of Azerbaijani Presidential Administration Suleyman Ismayilov wrote in article published in local media on Feb. 14.
According to him, some of the banks that are mentioned in the cases, have closed down already.
“Illegal actions and appropriation of money by bank officials were partially prevented as a result of investigations on the opened criminal cases. Compensation for damages to the country and individuals was provided,” Ismayilov wrote.
According to the article, the officials of closed Ganjabank were made answerable for the damage exceeding 14 million manats. Compensation of 421,000 manats was provided, and property with total cost amounting to more than 13 million manats was confiscated. Debt of more than 70 million manats was returned to the state on the case of closed Bank Standard.
Licenses of both banks were revoked because of the mismatch between their total capitals and regulatory demands and a number of other violations in 2016.
Total number of citizens' inquiries concerning banks and loan issuing in 2017 decreased compared to 2016, Ismayilov noted.
(1.7001 manats = 1 USD on Feb. 14)
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