Kyrgyzstan: Azerbaijan Ruling Family Sought Gold Interests
Azerbaijan has intermittently displayed interest in investing in Kyrgyzstan, but the latest set of revelations courtesy of the Panama Papers documents leak suggests that even the presidential family in Baku wanted a piece of the action.
In 2012, an obscure company called Redgold Estates Azerbaijan Ltd. became one of several international bidders hoping to snap up some out of a set of around a dozen gold concessions at an auction in Kyrgyzstan.
In the evening, the televised auction was called off when a group of demonstrators charged into a broadcast studio demanding a halt to proceedings.
As is the norm with offshore companies, tracing the line from a public company to the ultimate beneficiaries is a confusing business. Following the thread linking Redgold Estates Azerbaijan Ltd. to the family of Azerbaijan’s President Ilham Aliyev is tricky and requires some circumstantial sleuthing.
All the claims are based on documents leaked from Panama-based law firm Mossack Fonseca, which has forged a reputation for providing offshore company services to all-comers.
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