thewealthnet     About Us    |    FAQs    |    Contact Us
 
  Search
 
     
  Advanced Search       RSS Feed  twitter  linkedin 
Welcome to thewealthnet    |   Europe, Middle East & Africa Get The App   |   Login
  Tue 19th Feb 2019  |    Make this my homepage  
Subscribe now!
Credit Cards Accepted
World Map
    
UK's first UWO order is served on wife of disgraced Azerbaijan banker
12/10/2018 , John Evans, International Editor

The mystery high-spending woman who has just failed in her appeal against the UK’s first unexplained wealth order (UWO) has been revealed to be Zamira Hajiyeva, the wife of Jahangir Hajiyev, a former chairman of state-owned International Bank of Azerbaijan.

Mrs Hajiyeva risks losing her £15 million London home and a Berkshire golf course if she fails to satisfactorily explain the source of her wealth to the High Court.
 
She spent £16 million at Harrods over a decade, the court heard in a hearing on her appeal. She fought a legal battle to stay anonymous but media later persuaded the court that her identity should be revealed so that the public could be informed.
 
Under the terms of the UWO, Mrs Hajiyeva must provide the National Crime Agency with a clear account of how she and her husband could afford to purchase their large home in Knightsbridge.
 
Her lawyers, who are seeking to appeal against the order, said that the UWO "does not and should not be taken to imply any wrongdoing", by her or her husband.
 
Jahangir Hajiyev was jailed for 15 years in 2016 after being convicted of being part of major fraud and embezzlement that drained tens of millions of dollars from the Azerbaijan bank. He was also ordered to repay about $40 million.
 
In a statement on Twitter, Donald Toon, director for economic crime at the NCA, said the agency "fully supports an open and transparent justice system that helps demonstrate our determination to ensure that the UK is not seen as a soft target for the investment of illicit finance".
 
 

Share with Linkedin Share with Twitter
 RATE THIS ARTICLE
Poor   Average   Good   Excellent
thewealthnet archives contain 51,114 articles dating back to 1997,making it the largest single source of information on the wealth management industry world-wide. To search for more articles, please click here.

 

© This article originally featured on thewealthnet. It is protected by international copyright law. If you copy this article illegally, you will be liable to prosecution. All rights in and relating to this article are expressly reserved. No part of this article may be reproduced, stored in a retrieval system or transmitted in any form or by any means without written permission from the publishers.

 
    Latest Headlines:    by Topic | All News
  Advertise   |   Contribute   |   Press Release   |   Terms of Use   |   Privacy   |   Contact Us Copyright Pam Insight Ltd., All Rights Reserved