2023-06-09 06:47:50
After the resignation of Vasif Talibov, the shares belonging to his family members in “Nakhchivanbank” Open Joint Stock Company were transferred to other persons. Although Nakhchivanbank is one of the businesses owned by the Talibovs, the family’s shares in it have been kept secret for a long time. Although the bank publishes an independent audit report almost every year, the shareholders and the amount of their share have been hidden in various ways.
What method did they use to hide it?
It was possible to get information about the names of shareholders only in the bank’s financial report for 2017. This report was published in May 2018, and in the section on events that occurred after the reporting period, it was noted that one of the shareholders left the OJSC.
This person was the head of Jahan Holding, Vugar Abbasov, who transferred his share to Vasif Talibov’s daughter Baharkhanim and Seymur Talibov and left the bank.
In the financial statements for subsequent years, the section containing information about shareholders was hidden in various ways.
In the 2018 financial report, the text in the shareholders section is whited out and therefore illegible, but when the text is selected and moved to another location, the names and share amounts are clearly readable. This method was also applied in the English version of the report.
In the report for 2019, there is generally no page with an “Introduction” section. Usually, this part of the financial report provides information about the company’s shareholders. In this report, page 5 is completely removed from the report. In the English version of the report, the section with the same information is on page 8, and it is not there.
Similarly, in the reports for the years 2020 and 2021, in both the Azerbaijani and English language versions, either the page was removed, or the part with the shareholders was whited out and information about it was hidden.
What has changed in the report in 2022?
Coincidentally, the financial report for 2022 reveals the bank’s previous shareholders. They are Vasif Talibov’s wife Sevil Sultanova, sons Seymur and Rza Talibov, daughter Baharkhanim Talibova. In the section of the events after the reporting period, it is noted that from February 1, 2023, all shares were sold and the participation share changed as follows:
Whose stock was sold to whom?
Before this change, 63.66% share of the bank belonged to Rza Talibov, 9.82% to Baharkhanim Talibova, 20.48% to Seymur Talibov, and 6.04% to Sevil Sultanova.
In addition, the company that prepares the annual financial report and independent auditor’s opinion of Nakhchivanbank OJSC has also changed. Although the report for 2017-2021 was prepared by “Bakertilly” company, the final financial report and auditor’s opinion was prepared by Nexia EA Closed Joint Stock Company prepared. This company was registered as “Euro Audit” LLC in October 2009. Later, the name and legal form were changed. Currently, Nexia EA operates as a closed joint-stock company with a charter capital of 2,000 AZN.
What happened:
The State Security Service has conducted several operations in the Nakhchivan Autonomous Republic since November 2022, and local officials, including ministers, have been detained on charges of corruption and embezzlement. After these operations, the Chairman of the Supreme Assembly, Vasif Talibov, resigned resigned. As a result, after 27 years, Nakhchivan new leader has been appointed.
Along with Vasif Talibov, his son Seymur Talibov was released from the post of vice-rector of Nakhchivan State University.
Mikroskopmedia.com
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