Former head of Xalq Banki being prosecuted for embezzlement

On November 7, the Prosecutor General of Uzbekistan Nigmatilla Yuldashev chaired a meeting on cases of corruption in government agencies and public organizations.

During the meeting, he noted that the former chairman of JSC Xalq Banki (People’s Bank) started four fake companies and organized a criminal group.

In the first 9 months of 2019, the group looted 7 billion soums and took $22.5 million offshore.

“He also served as the head of Microcreditbank and embezzled around 173 million soums. Now he and his accomplices are in jail, facing trial,” the statement reads.