Dirty money spotlights role of family offices as enablers


LONDON: The signs were there. Jahangir Hajiyev, chairman of the biggest bank in Azerbaijan, and his wife, Zamira (pic), appeared to be living on dirty money.

Between 2003 and 2015, the couple spent a fortune in the UK. They dished out £11.5mil (US$14.3mil) for a townhouse in the ritzy London neighbourhood of Knightsbridge and another £10.5mil on a golf course and club near Ascot, the famed horse racing locale. They bought a new Gulfstream jet for US$42.5mil. Meanwhile, Zamira, wielding 35 credit cards, went wild in Harrods. In one week alone, she dropped about £725, 000 in the department store on jewellry, designer clothes and other merchandise.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Business

Oil prices surge 3% on reports of Israeli strikes on Iran
US bonds rally on reports of Middle East missile strike
Fed policymakers agree: there's no urgency to cut rates
Ringgit opens easier against US$ as Fed turns hawkish
Main Market-bound Keyfield to gain from AWB market upcycle
FBM KLCI continues rebound after two days of recovery
Trading ideas: RHB, Axiata, Yinson, Affin, Kimlun, AWC, Pansar, DC Healthcare, AwanBiru, Systech, Auro, Bursa Malaysia, HeiTech Padu, AmFirst REIT and Sin-Kung Logistics
Oil holds near 3-week low as US sanctions interrupt easing tensions
US stocks end near flat as investors assess earnings, data
ESG investor group wants market reforms

Others Also Read