Saturday, March 06, 2010

11 year old boy owns 44 million dollars of waterfront property

An eleven year old boy from Azerbaijan owns 44 million dollars worth of waterfront property in Dubai. How did he get all this money and property? By being the son of Azerbaijan's President.

Azerbaijan's government has been cited by the U.S. State Department as having "persuasive corruption." There is great evidence of government officials taking profits from oil for themselves and not for the people they serve.

From this Washington Post article that we found at the Dallas Morning News, the Post tried to contact the Azerbaijan's government for an explanation.

His name, according to Dubai Land Department records, is Heydar Aliyev, which happens to be the same name as that of the son of Azerbaijan's president, Ilham Aliyev. The owner's date of birth, listed in property records, is also the same as that of the president's son.

Officials in Baku, the capital of Azerbaijan, declined to comment on how the president's son – or at least an Azerbaijani schoolboy with the same birth date and the same name as the son's – came to own mansions on Palm Jumeirah, a luxury real estate development popular with multimillionaire British soccer stars and others with cash to burn.

Ilham Aliyev's annual salary as president is $228,000, far short of what is needed to buy even the smallest Palm property.

Azer Gasimov, the president's spokesman, declined to discuss the Dubai real estate purchases. "I have no comment on anything. I am stopping this talk. Goodbye," he said when contacted by telephone.

In all, Azerbaijanis with the same names as the president's three children own real estate in Dubai worth about $75 million, data indicate.

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