09:00

Rasim Mammadov was prosecuted

The State Security Service investigated the information received on the facts that Mammadov Rasim, Chairman of the Supervisory Board of Baku Steel Company LLC, abused his position to commit illegal acts that seriously damaged the development of the metallurgical industry, the rights of individuals and legal entities, and the legally protected interests of the state.

Based on the criminal case, substantial suspicions were established that during his tenure, Rasim Mammadov deliberately abused his powers and embezzled 13.2 million manats from the proceeds of the sale, wasted 42 million manats worth of products which caused significant damage to the financial resources and sustainable operation of Baku Steel Company LLC, and committed repeated frauds by seizing large sums of money from various individuals through deception and abuse of trust.

Rasim Mammadov has been charged under Articles 308.2 (abuse of power with grave consequences), 179.4 (embezzlement resulting in especially large damage), 178.3.2 (fraud committed in large quantities) of the Criminal Code of the Republic of Azerbaijan and remanded in custody by a court decision.

Currently, investigative-operational measures are underway.