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Kabul Bank case verdict being enforced: AG

Kabul Bank case verdict being enforced: AG

Dec 06, 2014 - 20:28

KABULinfo-icon (Pajhwok): Implementation of the Supreme Court’s ruling in the Kabul Bank embezzlement case has started, the Attorney General Office (AGO) said on Saturday.

Last Thursday the apex court upheld the appellate court decision, sentencing Sher Khan Farnoud and Khalil Ferozi -- the former head and chief executive of the bank -- to 1o years in prison. Assets of Mahmood Karzai and Haseen Fahim were also frozen.

AGO spokesman Basir Azizi told Pajhwok Afghan News they would act in line with the ruling of the Supreme Court. “Those who are already in prison will remain there and we will try to bring to the country the other accused that are abroad.”

Azizi assured that law would be equally applied to all people without any distinction. “Those who still owe the bank should pay off loans; otherwise their assets would remain frozen.”

Under a presidential decree, a special court was created last month to reinvestigate the Kabul Bank case. Aziz confirmed the bank had since recovered $12.5 million from the debtors.

Kabul Bank, once the country’s largest private-sector lender, plunged into financial crisis due to unauthorised loans and other anomalies. Reports put at 937.7 million the loans issued to a number of people, including stakeholders.





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