Azeri businessman who promised to build world’s tallest building arrested
25.05.2015 10:11
A Baku-based real estate developer who three years ago promised to build the world’s tallest building on a man-made island in the Caspian Sea has been arrested over a bank loan.
Haci Ibrahim Ibrahimov (Nehramli), head of Avesta Concern, has been held by the Interior Ministry Department for Fight Against Organized Crime since May 12, Virtual Azerbaijan reported, citing company official Qurban Ahmadov.
The arrest is connected with $57 million Nehramli borrowed from state-owned International Bank of Azerbaijan for his Khazar Islands project, although he has yet to be formally charged, Ahmadov said.
While the loan matures in 2019, the authorities demand that Nehramli pay it off now, he said.
Nehramli in 2012 announced plans to construct the world’s tallest tower, which he said would stand at 3,645 feet. Dubbed Azerbaijan Tower, the structure would soar 27% higher than the Burj Khalifa in Dubai.
www.ann.az
Similar news
Similar news
Latest news 
More news
Photo 
Video 
