Adnan Ahmadzada arrested in Azerbaijan over oil fraud

Adnan Ahmadzada, the previous chief trader of SOCAR and currently the Chairman of ABDA Invest Holding, has been arrested in Azerbaijan over oil fraud. He is being accused of mixing refined oil products with Russian crude oil – a popular method of fraud in the oil trafficking business.

Adnan Ahmadzada is a person of interest in our investigations because a whistleblower with extensive insider information about SOCAR is accusing Adnan Ahmadzada of being the hidden hand behind Alkagesta. Kamran Agayev, Alkagesta’s chairman is also a relative of Adnan Ahmadzada.

Alkagesta is Malta’s largest oil bunkerer and it has used Malta’s oil terminal in Birżebbuġa to traffic Russian oil with the Russian shadow fleet, and it has also been involved in the trading of trafficked oil from Libya. Alkagesta is currently being investigated by the EU and UK authorities for selling Russian oil in Europe with fraudulent certificates.