Rasim Mammadov, head of the Baku Steel Company, has been detained.
According to the Eurasia Diary, Mammadov was detained as a result of cordon and search operations conducted by the State Security Service (SSS).
He is accused of financial fraud and embezzlement. The businessman is expected to be remanded in custody in the near future.
Mammadov is known for his closeness to the President of ANAS Ramiz Mehdiyev. He became close friends with R.Mehdiyev's son Teymur Mehdiyev.