48 billion transferred to Azerbaijan to offshore acounts

Azeri economy expert Gubad Ibadoglu considers that $48 billion was transferred from Azerbaijan to various offshore accounts and could not have taken place without the approval of the top leadership in the country. The Tax Justice Network, a British organization, has recently reported this fact. Ibadoglu thinks that in reality, this figure would be much higher and apart from cash money, there is real estate and other assets purchased by Azeri officials around the world. Most distressing, is the fact that money in foreign banks work for the interests of those countries where the amount is allocated.