Author: Kalantarian Kevo

“MY HUSBAND IS IN RETAIL”

Or How President’s Daughters Ended Up Owning Mega-Million Dollars
Holding Company

The current article is based on the results of a new investigation
presented by the US-based non-profit organization Azerbaijani-Americans
for Democracy (AZAD). It is a logical sequence to the series of recent
reports about an enormous wealth accumulated by Azerbaijan’s ruling
family. Previous investigations by Radio Liberty journalist Khadija
Ismayilova about President’s daughter owning the mobile phone operator
“Azerfon” and commercial bank “Azalbank”, an article in Washington
Post on luxury Dubai villas belonging to President’s 11-years old
son, and the CNBC documentary “Filthy Rich”, vividly portraying the
corrupt fortunes of Aliyev family, – all drew a lot of attention from
worldwide audiences.

For a Russian version of this article, please click here.

Founded in 2003, “ATA-Holding” is one of the largest conglomerates
in today’s Azerbaijan, encompassing a diverse group of companies
in financial, manufacturing, tourist and other industries. Among
its holdings are the banks “ATA Bank” and “VTB Bank (Azerbaijan)”,
insurance company “ATA Insurance”, leasing company “ATA Leasing”,
hotel “Excelsior” and many other enterprises in different sectors
of the country’s economy. The Holding is also the official sponsor
of International Federation of Field Hockey, International Wrestling
Federation, and is a winner of various awards and contests affirming
the achievements of its various companies in Azerbaijan.

According to the information posted on the official website of
ATA Holding, the company’s charter capital (founding capital) in
local currency equivalent amounts to $107 million US dollars. Very
little other financial information is available to the public, and
the information about the holding’s ownership is veiled in a shroud
of mystery.

So, who are the owners of this mega-million, rapidly growing business
venture in Azerbaijan? Although many “informed” individuals within
Azerbaijani public have long considered it an open secret that
the higher-up figure behind the holding group is the Minister of
Finance Fazil Mamedov, with his relatives and associates managing its
affiliated companies, no official documents were ever presented to
confirm these allegations. AZAD’s investigation sheds light on the
real owners of ATA Holding, pointing clearly to…

The God Father

Coming to power in 2003, President Ilham Aliyev set new rules
of business in Azerbaijan. The system founded by his father and
predecessor, Heydar Aliyev, could no longer rely on the unquestionable
reputation and fear of the “god father”. In the hands of Aliyev-junior
it needed more tangible devices for holding command over different
clans plundering the country’s riches.

This resulted in a mass transfer of controlling share of the largest
companies to previously unknown firms registered in faraway offshore
zones, but in reality belonging to the President’s family members.

In other words, his status of “god father” was thus strengthened
by the corporate raiding – forcible seizure of businesses ownership
practiced by the highest official in the state.

Appearently, ATA Holding has also met the same fate.

According to the records from Azerbaijan State Registrar, the 51%
controlling share of ATA Holding belongs to “Hughson Management, Inc.”

registered in Panama, one of the leading offshore business zones (a
photocopy of the document is attached below; we deliberately removed
from the attached below picture references to the document inquiry
codes in order to protect the identity of the sources).

In its turn, records from Panama State Registrar (a photocopy of the
document is attached below) show as the owners of “Hughson Management,
Inc” … Arzu Aliyeva and Leyla Aliyeva, the daughters of the President
of Azerbaijan, Ilham Aliyev.

Thus, president’s two daughters possess the controlling share of
ATA Holding, worth minimum $55 million US dollars based on charter
capital alone, with real market value being higher by many-fold.

When it comes to his hidden fortunes, the circle of people whom
Azerbaijani President can trust is very small, indeed. And we can only
hope that he realizes the future he is building for his daughters,
who might have to keep saying “my husband is in retail”, as Leyla
Aliyeva did when she responded to the CNBC reporter’s question about
the sources of her family’s wealth. (AzeriReport)

Excerpts from Azerbaijan State Registrar Records

Excerpts from Panama State Registrar Records

PROSPEROUS ARMENIA, ARFD, ANC TO COOPERATE ON VOTING DAY

PanARMENIAN.Net
May 4, 2012 – 14:54 AMT

PanARMENIAN.Net – Representatives of Prosperous Armenia, ARF
Dashnaktsutyun and Armenian National Congress (ANC) involved in
inter-party headquarters will closely cooperate on the voting day,
ANC coordinator said.

Levon Zurabyan noted that these forces plan to form mobile groups
that will report on egregious election violations on election day,
proposing the observers also to join those groups.

He further noted that ANC doesn~Rt forecast the Constitutional Court
to rule the point banning voting lists publication unconstitutional.

~SFor this reason, inter-party members decided to register the voters.

By registering voters on the election day, we will disclose the
state secret,~T

ANC coordinator noted that all the three political forces will join
in alternative counting of voting results.

Parliamentary elections, due in Armenia on May 6, feature 8 political
parties, Republican Party of Armenia (RPA), Prosperous Armenia, ARF
Dashnaktsutyun (ARFD), Orinats Yerkir, Heritage, Democratic Party of
Armenia (DPA), Communist Party of Armenia and United Armenian party,
as well as one election bloc represented by opposition Armenian
National Congress (ANC).

URUGUAY THINKS KARABAKH ISSUE SHOULD BE RESOLVED ON THE BASIS OF SELF-DETERMINATION

ARMENPRESS
4 May, 2012
YEREVAN

YEREVAN, MAY 4, ARMENPRESS: The Armenian constituency of
Nagorno-Karabakh is closely related to Armenia and this is its future.

Armenpress reports that such a declaration made Minister of Foreign
Affairs of Oriental Republic of Uruguay Luis Almagro during the joint
briefing with Armenian foreign affairs minister Edward Nalbandian.

“For Uruguay the suggestions made by OSCE Minsk group are clear
enough to find support from other Latin American countries as well”
said Almagro.

In his words Armenian people of Nagorno-Karabakh are related to every
stone of that country and did not come from other place.

“Self-determination is a fundamental right and that is the position
of Uruguay” stressed the minister.

Almagro added that Uruguay respects all UN fundamental principles
and thinks that Karabakh issue must be resolved peacefully and in
the basis of self-determination right.

“This issue can not have any military solution about which
international community has also expressed rather simply on behalf
of Minsk group” mentioned Almagro.

THE RUINS OF THE ARMENIAN MEDIEVAL CHURCH IN BULGARIA TO BECOME A HISTORICAL-CULTURAL MONUMENT

19:35 . 03/05

The Ambassador of Armenia in Bulgaria Arsen Shoyan met the mayor of
Veliko Tarnovo Daniel Panov.

According to the information of the foreign ministry, the aim of
the meeting was the issue of the future fate of the Armenian church
constructed in late middle ages and destroyed at the beginning of
the 20th century.

A Bulgarian businessman found the land plot, on which the ruins of
the church are located, in 2008.

According to the agreement reached between the Armenian embassy and
the mayor of Veliko Tranovo, the local authorities and the proprietor
will take measures to turn the ruins of the Armenian church into a
historical-cultural monument of the town.

IRAN’S AMBASSADOR IS LEAVING ARMENIA WITH WARM MEMORIES

ARMENPRESS
3 May, 2012
YEREVAN

YEREVAN, MAY 3, ARMENPRESS: Iranian Ambassador to Armenia Seyed Ali
Saghayian on May 3 finished his diplomatic mission in Armenia. As
Armenpress reports Ambassador mentioned that he is leaving Armenia
with very warm memories.

“I have very good memories concerning Armenia. Armenian nation is
very amiable. I consider myself to be the friend of Armenian nation”
he said.

Reverberating to cultural relations of two countries the Ambassador
mentioned that the ancestors of both Iranian and Armenian people had
left reach heritage that we must keep and give to next generations.

“For the stability of Armenian-Iranian relations the culture was also
favorable. Armenian people were able to keep with honor their language,
religion and culture through difficulties. Thousands of Armenians
live in Iran and are the keepers of that civilization” he said.

In words of Seyed Ali Saghayian Armenian community in Iran has
opportunity to learn the language, to be educated. And this proves
the status that Armenians have in Iran.

“I had permanent friends in Armenia. I wish peace, stability and
progress to Armenia” said the Ambassador.

TEMPORARY ARMENIAN GENOCIDE EXHIBITION IN STOCKHOLM DRAWS TOURISTS, DIPLOMATS

hetq.am
15:20, May 3, 2012

The Union of Armenian Associations in Sweden in cooperation with
the Armenian Genocide Museum-Institute, Yerevan, Armenia, arranged
a temporary exhibition entitled the “Armenian Genocide and the
Scandinavian Response”.

The exhibition took place during April 23-27, 2012 in the Catholic
Cathedral, situated in central Stockholm. The exhibition was
originally inaugurated during April 2011 by the Armenian Genocide
Museum-Institute in Yerevan as part of the celebration of 150th
anniversary of Fridtjof Nansen, the world known Norwegian explorer
and human rights activist. In 2011 foreign ministers of Sweden and
Norway visited the exhibition during their official visits to the
Republic of Armenia. Numerous tourists from the Scandinavian states
had a chance to visit the exhibition during 2011.

The exhibition in Stockholm consisted of the original eleven panels
as well as six new additions, displaying the work of Scandinavian
diplomats, politicians and missionary workers during and after the
Armenian Genocide of 1915-1922. The additional panels also contained 12
selected diplomatic reports from the Swedish embassy in Constantinople
about the “annihilation of the Armenian nation”.

It is estimated that between 400 and 500 people visited the exhibition,
while it was mentioned by three Swedish newspapers, Svenska Dagbladet,
Dagen and Varlden idag. The exhibition will now go on a tour around
Sweden and will be displayed in various libraries, universities and
other public places.

NEW SKATING-RING CORRESPONDING TO INTERNATIONAL STANDARDS IS PLANNED TO BE BUILT

ARMENPRESS
3 May, 2012
YEREVAN

YEREVAN, MAY 3, ARMENPRESS: A new skating-ring corresponding to all
international standards is planned to be built in Yerevan in 2013. The
president of Ice hockey federation of Armenia Hayk Jaxacpanyan informed
about this Armenpress mentioning that Armenian hockey would have its
basic sports base.

In words of Jaxacpanyan the skating-ring building project has already
been affirmed and national federation is trying to implement it. The
new skating-ring will allow to develop hockey in Armenia in fast rates
as well as to hold a national hockey tournament with at least four
teams. Until now there has been only one very small skating-ring in
Armenia, which is not able to secure completely the development of
the sport.

Jaxacpanyan also informed that he would take part in ice hockey
international federation~Rs conference in the capital of Finland
Helsinki on May 17-20, where would be decided which world cup
tournament of 3-rd group Armenia would receive in 2013.

In words of the federation~Rs president Armenia already has such
experience: a few years ago hockey world cup tournament of 3-rd group
was organized in Sports and concert complex after Karen Demirchyan
in Yerevan.

Jacaxpanyan spoke also about the changes in Armenian national hockey
team: the team is replenished with Armenian hockey players from USA and
Russia and new staff change is planned in virtue of Russian players.

IN CASE THEY CONSIDER KOCHARYAN A CRIMINAL

Story from Lragir.am News:

Published: 12:37:35 – 03/05/2012

Vice-president of Heritage party Ruben Hakobyan summed up the election
campaign today. According to him, in terms of the media propaganda,
the campaign was held in a more advantageous atmosphere, which is a
big achievement. This is not the authorities’ merit but because the
law has been respected.

In a short time, a group appeared in the political field which started
working against Heritage and criticizing its activities. According to
him, the reason is that Heritage refused joining the PAP, ANC and ARFD
joint election monitoring headquarters. He says that Heritage demanded
to stop the election charity which was refuted by the rest of the
parties. “We understood that we would have to deal with a structure
which would just protect the illegal actions of a coalition force”,
he said.

Today, RPA, PAP and OYP are competing who will make more frauds.

Heritage stated the coalition is responsible for this situation and
change of power means the removal of all the three forces from the
power”, he said.

Hakobyan noted that this headquarter has not yet issued any statement
on any illegality and the ARFD and PAP cooperation is comprehensible
because the political basis is the same, but I can’t understand
the ANC- PAP cooperation in case Congress thinks Robert Kocharyan
and Vartan Oskanian are the main criminals”, said the Heritage
vice-chairman.

He thinks ANC wins nothing from this staff in political terms, the
opposition mass understands what is happening, while the PAP is in
a profitable situation, since it silenced its main criticizer.

LA POLEMIQUE DES KIOSQUES AU PARC MASHTOTS ENFIN RESOLUE
Stephane

armenews.com
jeudi 3 mai 2012

La presse du 2 mai rend abondamment compte de la visite du President
Sarkissian au parc Mashtots au centre d’Erevan où il y a plus de deux
mois des kiosques avaient ete installes sur decision de la mairie
d’Erevan, conduisant un vif mouvement de protestation des ecologistes
qui y ont campe depuis 80 jours.

Le chef de l’Etat a exhorte le maire d’Erevan a demonter les kiosques,
puisqu’ils abîment le panorama du parc. Le President a par ailleurs
remercie les policiers, qui depuis le debut des actions de protestation
des ecologistes assuraient l’ordre public, pour leur travail ”
excellent “, alors que dimanche dernier, suite a une altercation
entre manifestants et policiers, sept d’entre eux ont ete arretes
et mis en garde a vue pendant plusieurs heures, d’autres ayant subi
des blessures.

Tout en se felicitant de ce que le combat des ecologistes ait trouve
une issue positive, les commentateurs se demandent s’il ne s’agit
pas d’une campagne programmee en faveur du President Sarkissian et
de son parti Republicain a quelques jours des echeances electorales.

Ambassade de France en Armenie

Service de presse

ARKADY SOGHOMONYAN IS THE THIRD CANDIDATE FOR NAGORNO-KARABAKH PRESIDENT

arminfo
Wednesday, May 2, 21:37

Deputy Principal of the Stepanakert Branch of Armenian State Agrarian
University Arkady Soghomonyan has become the third candidate for
Nagorno-Karabakh President after Acting President Bako Sahakyan and
Ex Deputy Defense Minister Vitaly Balasanyan.

ArmInfo’s own correspondent in Stepanakert reports that the
presidential nomination process started Apr 20 and is to finish May 5.

The registration period is May 30-June 19, the election is scheduled
for July 19.