Afghanistan is doing what the west does not

mutmekep · Mar 5, 2013

Full article in AlJazeera

Two former heads of Afghanistan's largest savings and loan bank given five-year sentences for fraud and embezzlement.

Two of the former heads of Kabul Bank, Afghanistan's first private bank, have been given five-year prison sentences by a tribunal investigating charges of fraud and embezzlement.

Al Jazeera's Sue Turton, reporting from the Afghan capital, said there was anger and disbelief in the courtroom as the verdict against Sher Khan Farnoud, the bank's founder and chairman, and Khalilullah Ferozi, chief executive of the bank, was announced on Tuesday.

Turton said some people in the courtroom felt there was a mishandling of the investigation into the multi-million-dollar fraud that caused the collapse of the Kabul Bank in 2010.
Shamsul Rahman Shams, the judge, said that Farnoud and Ferozi must pay back the money, more than $700m, they gained from the corruption described as a "Ponzi scheme" by international investigators
Click to expand...

Log in or Sign up

Afghanistan is doing what the west does not

mutmekep New Member

Share This Page

Log in or Sign up

Afghanistan is doing what the west does not

mutmekep New Member

Share This Page

Useful Searches