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£1m diamond ring linked to first UWO case seized

A high value Cartier diamond ring purchased by jailed Azerbaijani banker Jahangir Hajiyev has been seized by NCA investigators as part of an ongoing Unexplained Wealth Order case.

The ring, which has a retail value of £1,190,000 and was originally bought by Hajiyev at Harrods in 2011, was seized under the ‘listed assets’ provisions introduced by the Criminal Finances Act 2017.

The NCA believes the source of the funds to purchase the jewellery requires further investigation.

Yesterday, at Westminster Magistrates Court, District Judge Snow granted detention of the ring for six months to allow further investigation in order to determine whether the ring is recoverable. The ring was seized from a high end jewellers, where it had been taken for repair.

This seizure follows on from the NCA securing UWOs in February 2018 in respect of two properties with a combined value in excess of £22m, which are believed to belong to Jahangir Hajiyev and his wife Zamira Hajiyeva. The order requires Mrs Hajiyeva to explain how she and her husband could afford to buy their large house in Knightsbridge as well as purchase a golf club in Berkshire.

In November the NCA seized 49 items of jewellery with a value of more than £400k from an auction house in London where they were being valued for Mrs Hajiyeva’s daughter.


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