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Report: Azerbaijan First Family owns $140 million in luxury homes around globe

Azerbaijani President Ilham AliyevThe president of oil-rich Azerbaijan and his two daughters own foreign luxury flats and homes — three of them in London — together worth $140 million.

Ilham Aliyev took over as president of Azerbaijan from his father in 2003.

He and his two daughters — Leyla and Arzu — own a penthouse apartment at 199 Knightsbridge in London worth $26 million.

Their properties also include a London mansion worth $25 million, a flat near Speakers’ Corner at Hyde Park worth $8 million, nine waterfront mansions in Dubai valued at $44 million, a dacha near Moscow worth $37 million, and a villa in the Czech spa town of Karlovy Vary worth $ 1.1 million.

Those are just “the known properties,” according to a May 10 report published by the Organized Crime and Corruption Reporting Project (OCCRP) here.

Back in Azerbaijan, “the family has amassed a vast personal business empire and taken over the country’s largest businesses, including banks, construction companies, gold mines and phone companies,” according to reporters Miranda Patrucic, Eleanor Rose, Irene Velska, and Khadija Ismayilova.

The registered owner of the First Family’s Knightsbridge penthouse is Capper Marketing Inc., registered in the British Virgin Islands, the report said.

The fuill report from the OCCRP is here.

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Richard L. Cassin is the publisher and editor of the FCPA Blog. He’ll be the keynote speaker at the FCPA Blog NYC Conference 2016

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