In one of the biggest revelations of financial records of hundreds of politicians and billionaires all over the world, the Pandora Papers revealed their offshore secret assets to them. The leaked papers have claimed that how the Royal family of Azerbaijan led by current President Ilham Aliyev looted their own country and bought luxurious properties in the UK. Mr Aliyev secretly traded close to £400m of UK property over the past 15 years.
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The Pandora Papers exposed the Royal family of Azerbaijan and claimed that President Aliyev had purchased £33.5 million worth of luxurious property in central London for his son, who was then 11 years old.
The leaked papers further claimed that the Royal family also sold a property to the Crown Estate for £66m in 2018, having paid £35m for it 10 years earlier.
The Guardian, which was involved in this investigation, claimed in its report that a potential ambiguity can be seen in the UK property registration system while dealing with foreign politicians and billionaires. The report said that the rules and regulations of the UK’s property system were ignored by the two parties.
The report further added that Azerbaijan’s President Aliyevs, who is in power since 2003, and his close aides have secretly acquitted 27 properties for £389 million between 2006 to 2017.