Once a well-established oil executive with global reach, Adnan Ahmadzada, former head of SOCAR Trading is facing charges in Azerbaijan and was arrested in Baku’s tightening campaign against financial misconduct in the energy sector.
Manifold Times and First Truth&Transparency Committe reported investigators suspect Ahmadzada of using a web of offshore structures and intermediary companies to divert profits from oil exports and bunkering operations, while maintaining luxurious assets abroad — including properties, vehicles, and financial accounts registered under proxies.
Ahmadzada’s downfall contrasts sharply with his earlier status. As reported by IntelliNews, the once “oil prince” appearing at international events and maintaining relationships with global sports figures and Western business elitessaw his image collapsed in the middle of 2025. A government internal audit reportedly uncovered several irregularities with his companies turning a financial investigation into a political scandal.
Parallel investigations in Dubai, reported by TradeWinds News, revealed entities connected to Ahmadzada engaged in bunker supply, fuel blending, and ship chartering…
