NEW: The son of a prominent Azerbaijani official lives in a luxurious London flat. But he didn’t buy this property, an obscure offshore company did.
This story raises serious questions about this deal that implicate a powerful Turkish businessman. 1/
occrp.org/en/investigati…
This story raises serious questions about this deal that implicate a powerful Turkish businessman. 1/
occrp.org/en/investigati…
An Azerbaijani state water management company, led by Ahmad Ahmadzada, has awarded two lucrative contracts to construction firms owned by Mehmet Cengiz, one of Turkey’s richest people.
This investigation reveals another hidden connection between the two men. 2/
This investigation reveals another hidden connection between the two men. 2/
Months before Cengiz’s company signed a contract to build a massive dam in Azerbaijan, a London-based firm controlled by Cengiz made a $3m payment to the mysterious Vremax Properties.
It’s unclear what Vremax, which is based offshore, actually does. It has no website. 3/
It’s unclear what Vremax, which is based offshore, actually does. It has no website. 3/
After Vremax received the payment, it bought a $2.3m flat in Kensington and Chelsea, one of London’s most expensive boroughs.
The occupant of this posh property is Juma Ahmadzada, son of Ahmad Ahmadzada, the head of the Azerbaijani state water management company. 4/
The occupant of this posh property is Juma Ahmadzada, son of Ahmad Ahmadzada, the head of the Azerbaijani state water management company. 4/
Over the course of several years, Vremax spent over $3.4 million on two neighboring apartments and an adjacent corridor, allowing Juma Ahmadzada to expand his living space across an entire floor.
At 273 square meters, the complex is large even by central London standards. 5/
At 273 square meters, the complex is large even by central London standards. 5/
Paperwork reviewed by OCCRP shows Juma Ahmadzada was the driving force behind the proposed renovation of the three flats, which include a library and a gym.
The businessman shares the apartment with his wife, the daughter of the governor of the Central Bank of Azerbaijan. 6/
The businessman shares the apartment with his wife, the daughter of the governor of the Central Bank of Azerbaijan. 6/
Since Vremax is registered in the British Virgin Islands, a notoriously secretive jurisdiction, the company’s owners remain hidden.
That’s why the affair warrants further investigation, according to two corruption specialists who reviewed OCCRP’s findings. 7/
That’s why the affair warrants further investigation, according to two corruption specialists who reviewed OCCRP’s findings. 7/
Reporters were able uncover details about Mehmet Cengiz’s business empire thanks to findings from the #PanamaPapers. 8/
If you have any information about Vremax Properties, consider contacting OCCRP journalists at info@occrp.org or by using our SecureDrop service.
We take your privacy and safety very seriously. 9/ occrp.org/en/become-a-wh…
We take your privacy and safety very seriously. 9/ occrp.org/en/become-a-wh…
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