Guernsey PCC linked to PEP [SOE] son’s £17m UK property – time to check SOF/SOW?
Rashad Abdullayev the son of Rovnag Abdullayev, the long-time president of Azerbaijan’s state oil company SOCAR, owns a luxury flat at No20 [Twenty], Grosvenor Square.
Rashad Abdullayev acquired the property through a Guernsey offshore company for 17.3 million British pounds ($22.4 million) in 2019.
Records show that Rashad Abdullayev became the company’s owner in June 2019, and according to U.K. land records, the company then bought the London flat that December.
- SOCAR’s annual reports show that the annual salaries and benefits for the company’s president and about a dozen vice presidents total less than $800,000, making it essentially impossible for the money for the London flat to have come solely from Rovnag Abdullayev’s official income.
- Furthermore, Rovnag Abdullayev, who now serves as a deputy economy minister, has had no known sources of income besides his official salary.
- According to his now-deleted LinkedIn profile, Rashad Abdullayev landed a job at SOCAR Trading, the state oil company’s marketing and development arm, at the age of 16.
- His title was “trade and business development specialist.” His father disputed the information contained in his son’s LinkedIn profile, writing that Rashad had not worked for SOCAR Trading, but as an intern for a different SOCAR-affiliated company.
- Just three years later, at the age of 19, Rashad Abdullayev founded a real estate investment, consulting, and property management company while living in Turkey.
- For several years, he also owned a restaurant in the resort city of Bodrum and co-owned a chain of gas stations in Georgia.
Rashad Abdullayev’s ownership of the four-bedroom flat at Twenty Grosvenor Square is held through a company incorporated on the island of Guernsey.
The Guernsey company is:-
- Mount Street Investments PCC,
- Heritage Hall Le Marchant Street St Peter Port GUERNSEY GY1 2JJ]
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