The trial of Ramin Isayev, also known as Ramin Ali Hakan, commenced on September 9th 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.
The prosecution in Isayev’s trial stated that Isayev faces several indictments on multiple counts of fraud and embezzlment, and that the prosecution’s case is strong.