Suleyman Javadov has agreed to surrender £4m which was transferred via the Azerbaijan Laundromat money laundering scheme. Mr Javadov who is based in London has close links to the ruling elite in Azerbaijan where his father was deputy energy minister until his dismissal last year.
National Crime Agency | Rosenblatt’s Financial Crime Team
The National Crime Agency (NCA) were granted Account Freezing Orders in 2018 and 2019 for 10 bank accounts held by Mr Javadov and his wife Izzat Khanim Javadova which held a total of £6.4m. The forfeiture of £4,033,803.21 held in four of the aforementioned bank accounts settles the NCA’s claim, meaning the freezing orders on the other accounts fall away.
The settlement agreement was reached before the forfeiture hearing to recover the money was due to start on 5 July 2021 at Westminster Magistrates’ Court. This hearing was cancelled with Mr Javadov choosing to settle rather than face a court battle. The settlement follows a challenging and complex NCA investigation lasting more than two years. The investigation involved cooperation from law enforcement partners in a number of countries including inter alia, Denmark, Estonia, Germany, Latvia and Spain.
The Head of Asset Denial at the NCA Andy Lewis stated “this result is a significant success for the UK – £4m for the public purse – following the first case seeking forfeiture of funds relating to the so called Azerbaijan Laundromat.” He further added, “anyone who used the Azerbaijan Laundromat should not rest easy, as your assets in the UK are potentially recoverable. Our investigation shows the inherent danger of moving money in this way. If money transfers though a ‘laundromat’ system, we can go after it.”
The NCA recognises that this settlement agreement does not amount to an admission or finding of liability or wrongdoing against either Mr Javadov or his wife.
Rosenblatt can help
Rosenblatt has a wealth of experience in financial crime and is uniquely placed to support clients that are the subject of a National Crime Agency investigation having being involved in some of the most high profile investigations into multi-million-pound, cross jurisdictional fraud cases in the UK.
https://www.rosenblatt-law.co.uk/services/financial-crime/#financial-crime
https://www.rosenblatt-law.co.uk/services/serious-and-general-crime/
(Source: NCA – Azeri elite agrees to hand over £4 million)
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