A villa worth €5.8 million, acquired through companies registered in France and Luxembourg and mentioned in the "Panama Papers", was initially owned by Panah Jahangirov, an official who served in various departments of the Azerbaijan Presidential Administration. The property was later sold to Shahin Movsumov, the brother of a top assistant to President Ilham Aliyev.

The resort town of Villefranche-sur-Mer, located near the Principality of Monaco on the French Riviera, is home to a stunning estate with a villa and a sprawling garden overlooking the breathtaking beauty of the Mediterranean Sea. With only a few days left until the arrival of 2022, the Azerbaijani owners of this villa had not gathered there to celebrate the New Year in a tranquil retreat far from home. Instead, they convened at the property, known as "Santa Monica", to finalize the dissolution of a real estate company they owned in France.

Back in 2011, 99% of the shares in “Santa Monica Investment” LLC were transferred from “Villefranche Investments S.A.,” through a Luxembourg-registered company, to Panah Jahangirov, an official in Azerbaijan's Presidential Administration. The remaining 1% was allocated to his wife, Reyhan Huseynova, a teacher.

A notarized sales contract reveals the couple paid €10,000 for those shares. But Jahangirov also assumed approximately €1 million in debt previously held by “Villefranche Investments S.A.”

Photo: Panah Jahangirov. Agjabedi District Executive Power

According to the same document, “Santa Monica Investment” also owed €264,828 to Jahangirov. The document does not specify the details of this debt. Along with the shares, the Luxembourg-based company also transferred a €5.5 million loan obligation, which had been obtained for the villa’s purchase, to Jahangirov and his wife. Altogether, the villa cost its new owners €5.8 million.

Not much is known about Jahangirov. More information is publicly available about his wife, who has been awarded France’s Legion of Honor and the rank of Officer of the Order of Academic Palms. She serves as the Vice President of the Azerbaijan-France Friendship Society.

Her father, Kamran Huseynov, had close ties with former President Heydar Aliyev, father of the current president, going back to the Soviet era. The Huysenov family maintains close ties with the current government. Reyhan Huseynova’s sister, Hicran Huseynova, previously served as chairwoman of the State Committee for Family, Women, and Children’s Affairs. Now a ruling party member of parliament, she chairs the parliamentary committee of the same name.

Photo: Official website of the France-Azerbaijan University

The sales contract for “Santa Monica Investment” LLC did not specify Jahangirov’s workplace, but it did indicate he was a government official. According to information published in official government newspapers, Jahangirov has served as chief advisor in the Department for Regional Administration and Local Self-Government Bodies within the Presidential Administration. He has also worked in the Department for Interethnic Relations, Multiculturalism, and Religious Affairs.

Azerbaijani law prohibits government officials from engaging in business activities. Despite legal requirements, government officials have yet to make public their income declarations.

Screenshot: Registry document

The estate consists of a duplex building with a garage, a basement and a swimming pool. There is a single-story structure in the yard featuring a decorative pond. Huseynova enthusiastically shared images from the villa’s yard on her social media account, showcasing the stunning view opening onto the sandy shores of the blue sea.

Photo: Reyhan Huseynova, view from the villa's courtyard, Facebook

The estate is located near historic Leopold Villa, which once belonged to the Belgian royal family and served as a filming location for Alfred Hitchcock’s “To Catch a Thief”.

The Jahangirov family is not the only Azerbaijani government-affiliated family vacationing in these exclusive areas.

A 2015 investigation by the Organized Crime and Corruption Reporting Project (OCCRP) revealed that President Ilham Aliyev, his family, and close associates frequently vacation near glamorous French Riviera cities including Cannes and Saint-Tropez, often aboard luxury yachts.

The 2008 sales deed for the Santa Monica villa does not mention the names Panah Jahangirov or Reyhan Huseynova. The villa’s ownership was linked to three companies registered in Luxembourg, effectively masking its true beneficiaries.

One of these companies, “Lannage S.A.”, was managed by Jan Bodoni, the former director of Experta, a subsidiary of the Luxembourg International Bank (Dexia/BIL).

“If an Azerbaijani citizen wants to acquire real estate in France, there is no reason to establish a company in Luxembourg, unless they wish to conceal their identity or something related to estate planning,” he stated in a phone conversation with Forbidden Stories journalists.

Bodoni, 75, who claims to have created thousands of companies, said he does not recall the Cahangirov family. Nnown for his expertise in offshore financial mechanisms, was named in the Panama Papers, a 2016 investigation by the International Consortium of Investigative Journalists. According to these documents, Bodoni created 1,500 offshore companies for “Experta”.

The villa was sold in 2019 to the company "Boulevard Side," registered in Monaco. The new villa owner, Shahin Movsumov, is the brother of Shahmar Movsumov, economic affairs advisor to Aliyev. Shahin Movsumov is also the founder of one of the largest companies involved in Azerbaijan construction, transportation, and other services – "AS Group Investment" LLC.

Shahin Movsumov’s name appeared in a construction permit document three years before the sale of the villa, as the representative of "Santa Monica Investment" LLC. After the villa was sold to its new owner, it was demolished. Plans are to build a new luxurious villa,

A former owner of the villa, 84-year-old orchestra conductor Manfred Ramin, told journalists from "France 24" that he knew the Jahangirov family: "They held us in high regard, especially since (Reyhan Huseynova)] was very knowledgeable about music, and she was delighted to see a grand piano in the house ..."

Ramin said his neighbor, Eldar Garibov, introduced him to the Jahangirovs. Garibov is the owner of "Unibank," one of the largest private banks in Azerbaijan. A year before Reyhan Huseynova, he also received the "Legion of Honour" from the French Embassy in Azerbaijan. He owns a seaside villa worth 3 million euros.

Another company that links Jahangirov to Luxembourg is "Consolidated Equipments S.A." He was a director of the company, which was involved in the cotton business between 2006 and 2010. According to documents obtained by OCCRP related to its "Troika Money Laundering Investigation," the company received $256,300 in 2007 from the "Continus Cooperation" company into an account opened at Dexia International Bank. A sum of €30,000 was transferred to Jahangirov’s account for the purchase of technical goods. The loan intended for the purchase of the villa owned by the Jahangirovs was also obtained from this bank.

Another director of "Consolidated Equipments S.A." was Azerbaijani businessman Khagani Bashirov. He was detained following a criminal case opened against Azerbaijan International Bank (ABB), where more than 50% of shares were government-owned. According to "Azadliq Radio/Radio Liberty Azerbaijan," Bashirov was accused of failing to repay loans totaling $185 million which he had taken from ABB over two years through various companies. He was released after only five months.

Photo: Khagani Bashirov, screenshot taken from journalist Eynulla Fatullayev's YouTube channel

Bashirov told journalists from "Forbidden Stories" in a phone conversation that Jahangirov had been involved in the cotton business for nearly 25 years before entering public service. Bashirov said Jahangir Hajiyev, former head of the Azerbaijan International Bank (currently imprisoned), introduced him to Jahangirov.

Bashirov said the bank initially collaborated with Jahangirov but ceased support for his projects: "At that time, Panah Jahangirov was facing serious problems in Azerbaijan. It was around 2008-2009. After that, everything got back on track, and he became a public servant."

After a criminal case was opened against the Azerbaijan International Bank (ABB), the British government seized property and a golf club worth 14 million pounds belonging to Jahangir Hajiyev’s family in London. Bashirov's name also appears in that case related to money laundering.

Documents of the UK’s National Crime Agency obtained by OCCRP state that Bashirov facilitated numerous money transfers through the Azerbaijan-registered “Ves Consultancy” LLC to purchase a golf club, a private jet, and several residential properties belonging to Jahangir Hajiyev’s family in the UK.

Luxembourg's law enforcement agencies are increasing their scrutiny of Bashirov's activities. In a response to an inquiry by “Forbidden Stories”, the Luxembourg public prosecutor's office stated: "During a four-day interrogation held this October, Mr. Bashirov was charged with fraud, money laundering, and professional misconduct."

In a statement to “Forbidden Stories”, Bashirov denied the allegations: "Luxembourg has allowed these activities for years, and now they are starting to ask questions! (...) Such things do not happen elsewhere; this is nonsense!"

“Forbidden Stories” did not receive a response from the Presidential Administration regarding questions about Jahangirov. His wife hung up during a phone conversation with an “Abzas Media” journalist after saying the villa had been sold years ago and was no longer theirs.

She already deleted the sea view photo taken in the villa's yard from her social media account just before the investigation was published.

Author: “Abzas Media”

Illustration: Forbidden Stories

The investigation was conducted as part of the “Baku Connection” project, launched by the Forbidden Stories Consortium after the arrest of “Abzas Media” journalists to continue their unfinished investigations.

Contributors to the investigation: Leyla Mustafayeva (Abzas Media), Eloize Layan and Youssr Youssef (Forbidden Stories), Karina Chabour (France 24), Roméo Langlois (France 24), Sebastian Seibt (France 24), Pierre Sorlut (d’Lëtzebuerger Land), James Dowsett (OCCRP), Kelly Bloss (OCCRP).