Saturday, March 06, 2010

Azerbaijan president's son, 12, 'buys £30m worth of luxury Dubai property' - Telegraph

Heydar’s name and his date of birth appeared on Dubai Land Department records, which were obtained by the paper.

The details listed on the property records were the same as those of the son of the former Soviet Republic’s president, whose annual salary is about £150,000 ($228,000).

The purchases are about the equivalent to 10,000 years' worth of salary for the average citizen of the country.

Industry sources with knowledge of the transactions told the paper the purchases were made by a buyer representing Azerbaijan's ruling family, with the properties paid for “upfront”.

It remains unclear whether the boy was given the property as a gift or how he could have bought into the development, after officials in Baku, the country’s capital, refused to comment on the claims.

Corruption???? Surely not

Posted via web from poobumwee's posterous

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