Former owner of Baku steel company sentenced to 14 years in prison

The trial on the case of the former head of the metallurgical enterprise Baku steel company Rasim Mammadov ended on Wednesday in the Baku Serious  Crimes Court.

The court sentenced him to 14 years in prison to be served in a strict regime prison.

Before the announcement of the verdict, Mammadov stated that the charges had nothing to do with him and asked for a verdict of not guilty.

On November 22, public prosecutor Orkhan Samedov proposed that Mammadov be found guilty on all charges and sentenced to 15 years in prison with confiscation of property.

Mammadov was accused of committing economic crimes under  the Articles: 179.4 (appropriation and embezzlement on an especially large scale); 193.3.2 (sham entrepreneurship, with receipt of income on an especially large scale); 308.2 (abuse of official powers that entailed grave consequences) and 313 (official forgery) of the Criminal Code.

According to the information of the State Security Service, which detained Rasim Mammadov on February 3 this year, for several years Mammadov embezzled over 13 million manats and plundered products worth 42 million manats.

Thus, serious damage was caused to the financial position of the enterprise. In addition, Mammadov fraudulently embezzled funds from individuals. As a result of the investigation, the total amount of damage caused by Mammadov was 185 million manats.

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