Oligarchs Assets

High Court Ruling Finds ‘Compelling Evidence’ of Oligarch Javanshir Feyziyev £50m Empire Built on Criminal Activities

According to a judge from the High Court, there is strong evidence suggesting that a wealthy individual Javanshir Feyziyev from Azerbaijan purchased a £50 million property portfolio in London using illicit funds.

According to the ruling made by Mr Justice Poole, there was evidence to suggest that Javanshir Feyziyev, a millionaire, may have been involved in fraudulent activities and the use of illicit funds to buy 22 properties in the city.

Javanshir Feyziyev £50m Empire

Whistler Square, part of the Chelsea Barracks development in Belgravia, is home to two properties worth £18.4million and £8.1million. Additionally, a property at Cumberland Terrace with a price tag of £4million overlooks Regent’s Park.

A court had previously prohibited the disclosure of the address in question, but this limitation was lifted following a request by the Standard, citing the public’s right to be informed that a luxurious property in London was purchased using illicit funds.

According to a ruling made by the judge, Javanshir Feyziyev and his wife Parvana, who are co-owners of the majority of the homes being pursued, attempted to have the freezing orders imposed by the National Crime Agency, which prevented them from selling the properties, lifted.

According to the lawyers of the couple, they deny any wrongdoing and argue that the restrictions on their London properties should be lifted. These properties were purchased with funds from Mr Feyziyev’s legitimate business ventures, such as tobacco, pharmaceutical, and hotel industries, which have generated a significant amount of wealth.

The argument was also made that obtaining restrictions based on flawed evidence was unnecessary.

However, Mr Justice Poole dismissed the attempt, stating that there was a significant possibility of loss if the restraining orders were removed and compelling proof that the properties were acquired using illicit gains.

According to him, the court did not find the Javanshir Feyziyev guilty of any “particular criminal act” and there were no ongoing criminal cases against them. However, it was believed that there was a strong argument that the couple’s London properties were purchased using funds obtained through illegal activities.

How OCCRP Investigated Javanshir Feyziyev Properties

The UK Supreme Court started the trial for the 22 properties owned by Azerbaijani MP Javanshir Feyziyev and his spouse on February 22. These properties were frozen after being suspected of being acquired in London through illegally acquired funds.

Parvana Feyziyeva, the wife of the Azeri tycoon and MP Dr Javanshir Feyziyev, the couple’s son Orkhan, and nephew Elman Javanshir were all accused by law enforcers of profiting from corrupt funds provided to them by the politician and chanelled into Britain via the “Azerbaijan laundromat” scheme

On June 23, 2023, a Supreme Court decision resulted in the freezing of several properties that were collectively purchased for 39.5 million pounds ($50 million).

As reported by the OCCRP (Center for Corruption and Organized Crime Research), Javanshir Feyziyev did not provide a response when requested for comment. However, on February 22, the family’s attorney submitted a petition to the Supreme Court in an attempt to reverse the ruling.

Upon receiving a request from Britain’s National Crime Agency, the court deliberated on the possibility of freezing the property.

According to the Feyziyevs’ attorney, the agency failed to comply with all required procedures, leading to a lack of adequate justification for contesting the acquisition of any of the mentioned properties.

In an interview with Radio Liberty’s Azerbaijani service, Steve Goodrich, the head of research and investigations at Transparency International’s UK branch, discussed the process of the Azerbaijani government’s handling of Feyziyev’s property.

According to our inquiry, there are properties in the UK valued at over 6.7 million pounds that were acquired using questionable funds. UK authorities are advised to look into properties that might have been bought with illicit gains or corrupt means, as there are significant doubts surrounding these investments. Transparency in the legal process is a crucial aspect of our justice system. Therefore, it is in the best interest of the public to disclose details about such instances.

According to the National Crime Agency, the Javanshir Feyziyev family had caught the agency’s eye due to their bank accounts holding millions of pounds. The agency alleges that the funds were deposited into the accounts through a money laundering method known as the Azerbaijan money laundering machine, which was uncovered by the OCCRP in 2017.

In the year 2022, a total of 5.6 million pounds (equivalent to $7.56 million) was seized by the UK authorities. These funds were discovered in the bank accounts belonging to Parvana Feyzieva, wife of Javanshir Feyziyev, as well as his son Orkhan and relative Elman Javanshir.

According to the National Crime Agency, Feyziev and his spouse’s properties were frozen due to the presence of “compelling evidence” that they were purchased using funds obtained through money laundering activities.

The act of freezing the property prohibits its sale or transfer to a different individual.

According to the agency, the transfer of funds was carried out using a highly intricate mechanism.

The report states that Javanshir Feyziyev purchased the priciest property, which amounted to 26 million pounds ($33.4 million), within the Chelsea Barracks apartment complex in London.

A collection of assets that have been frozen includes a residence located in the prestigious Regent’s Park area and nineteen apartments situated in newly constructed buildings in the northwest region of London. Feiziev is said to have invested a total of 10 million pounds ($13.7 million) in purchasing these properties from 2008 to 2018.

The agency reports that the combined worth of the properties that have been frozen is 50 million pounds.

According to reports, the decision on whether to keep the property frozen lies in the hands of the judge presiding over the case.

According to a research conducted by OCCRP in 2017, it was discovered that a total of $2.9 billion was transferred through the “Azerbaijani money laundering machine” from Azerbaijan.

According to the OCCRP, Feyziev’s pharmaceutical company Avromed in Azerbaijan utilized two companies to launder $138 million.

As a result of this information, Javanshir Feyziyev took legal action against OCCRP for “defamation”, and the disagreement was settled through mutual agreement between the involved parties.

According to Javanshir Feyziyev, he has no involvement in any money laundering or other illegal activities.

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