AGO freezes the assets of 8 individuals involved in Kabul Bank fraud

The Attorney General’s Office (AGO) on Sunday announced that it has frozen the properties belonging to 10 companies and 8 individuals involved in the Kabul Bank fraud case.

The action comes after the Supreme Court held them guilty and instructed the AGO office to freeze their assets, according to AGO spokesperson Basir Azizi.

According to Mr. Azizi, only Mehmood Karzai, Mohammad Haseen Fahim, Abdul Ghafar Dawi and Gulbahar Habibi have so far appeared before the AGO to clear their outstanding dues.

“We have frozen the properties of these companies and individuals on the instructions of the Supreme Court,” Mr. Azizi said on Sunday.

Abdul Rashid Rashed, the acting chief justice of the Supreme Court said the action is irreversible. However, the case is far from solved, he added.

Abdul Rashid Rashed, the acting chief justice of the Supreme Court said the action is irreversible 

On November 11, the two main accused in the case, former chairman, Sherkhan Farnood and the former chief executive officer (CEO), Khalilullah Ferozi received their verdicts from Appellate Court in Kabul.

Mr. Farnood was sentenced to 15 years in prison and fined 237 million USD, while Mr. Ferozi was sentenced to 15 years in prison. The junior bank officials received sentences ranging between one and two years and fine of 24,000 Afs.

A week after the verdict was announced; the key accused in the case rejected the Appellate Court’s verdict and demanded a review by higher court.

The story of Kabul Bank’s catastrophic debacle in 2010 has been in news for too long. More than 900 million USD were allegedly embezzled and shipped out of the country by senior officials of the bank at the behest of powerful politicians. It was the biggest banking scandal in the history of this country.  

Do you have information you wish to share with Zariza.com? You can email our News Desk to share news tips, reports and general feedback. You can also email the Blog Desk if you have an opinion or view to share, or if you have a special project send us your photos or videos at Projects desk.


comments powered by Disqus

Afghan Zariza ( Millennium )

The Zariza is designed to inform, educate, and engage young generation inside Afghanistan. The Zariza’s goal is to empower Afghans to create better future through knowledge and actionable, positive and uplifting reporting and news. The Afghan Zariza was founded based on those needs and goals, and will fill this gap....

The Magazine ISSUE ( Feb 2015 )