An investigation by the UK’s National Crime Agency (NCA) has led to the seizure of millions derived from a sophisticated international ML scheme referred to as the Azerbaijan laundromat. The investigation focused on bank accounts linked to Azeri politician and member of parliament Javanshir Feyziyev.
Authorities have imposed a Forfeiture Order for £5.6 million ($7.4m) in UK bank accounts belonging to Feyziyev’s family members. Overall, there are six Account Freezing Orders for accounts belonging to Feyziyev’s wife, Parvana Feyziyeva, his son, Orkhan Javanshir, and his nephew, Elman Javanshir (total amount £15.3m, or $20.24m).
The laundromat scheme involved the movement of illicit money through many shell companies with bank accounts in Estonia and Latvia. Fictitious invoices and contracts were provided to conceal the true nature of these transactions. Authorities suspected that the funds in the accounts of Feyziyev’s relatives came from the Azerbaijan laundromat and are thus recoverable.
Source: National Crime Agency, UK
