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Farnod, former Kabul Bank chairman, dies in Bagram Prison

Farnod, former Kabul Bank chairman, dies in Bagram Prison

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Aug 24, 2018 - 16:55

KABULinfo-icon (Pajhwok): Former Kabul Bank Chairman Shir Khan Farnod has been died while spending his jail term in Bagram Prison, a credible source said Friday.

Farnod was the founder and one of shareholders of Kabul Bank, a private bank, after the fall of Talibaninfo-icon regime.

He was accused in a serious corruption case of the bank in 2012 and imprisoned in Bagram Prison.

A government official, who wished to go unnamed, told Pajhwok Afghan News that Shir Khan Farnod passed away in the prison on Thursday night.

The source said that Farnod was suffering from heart disease and sugar and he possibly died to a heart attack.

President Ashraf Ghani has appointed a delegation to jointly investigate the case with Farnod’s family, the official added.

Shir Khan Farnod and Khalilullah Ferozi were fired from their positions at Kabul Bank in 2010 after reports surfaced that the bank had lost hundreds of millions of dollars. Kabul Bank was then brought under the control of Afghanistaninfo-icon’s central bank, De Afghanistan Bank.

Abdul Qadir Fitrat, former head of the central bank had said that $910 million was illegally withdrawn from Kabul Bank in the form of undocumented loans to well-connected individuals.

Special primary court of the Kabul Bank scandal awarded three months to five years of jail charges to 20 people including former Kabul Bank officials involved in the case.

The court in its final decision sentenced Shir Khan Farnod and Khalil Ferozi each to five years of detention.

After Kabul Bank, once the country’s largest private lender, plunged into a deep financial crisis in 2010, the government injected $825 million to overcome the crisis.

Reports put at 937.7 million the loans issued to a number of people, including stakeholders.

The government says it has so far recovered $437 millions. Twenty-four defaulters have paid back their debts until now.

mds

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