Presidents children among beneficiaries of multimillion-pound global investments by networks of companies
Azerbaijans ruling families are the alleged beneficiaries of dozens of anonymously owned companies that have been used to invest in property, hotels and businesses in Europe, according to an investigation by the Daphne Project.
Over the past three years, several networks of companies appear to have used a private bank in Malta for secret investments in the UK, Spain, France, Georgia and Montenegro, research by the project found.
Many of the companies were allegedly operated for the benefit of the children of Ilham Aliyev, Azerbaijans president, and the sons of his minister for emergency situations, Kamaladdin Heydarov, according to three sources with knowledge of the transactions.
Their claims are supported by information in the public domain, and a leak from Dubai residency records.
Aliyevs daughters, Leyla and Arzu Aliyeva, did not respond to a request for comment.
Lawyers for Heydarovs sons, Nijat and Tale, said: Our clients are the beneficial owners of companies which have entirely legitimate and lawful business.