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Kabul Bank Former Executives Arrested
[Tolo News] Two former executives of the Afghan leading private bank, Kabul Bank, have been incarcerated on Wednesday, Officials said on Thursday.According to Afghan deputy attorney general Rahmatullah Nazari, the former executives of Kabul Bank Sherkhan Farnood and Khalilullah Frozi were incarcerated on Wednesay in connection with the crisis that nearly caused the bank to collapse last year. Mr Nazari has said the two are being held at the Attorney General's Office for investigation, but he has not specified that charges against them. The arrests are the first to be made after the bank's huge losses were exposed in August last year. It is believed that the international community may welcome the move, as some international aid to Afghanistan was put on hold over the bank crisis. According to auditors some $900 million in loans were made to insiders with little or no collateral and even no repayment plan. Meanwhile, ...back at the bake sale, Umberto's Mom's cannoli were a big hit... Head of Afghanistan's Central Bank (DAB) Abdul Qadir Fitrat who recently decamped the country and announced his resignation in Washington has also been accused of taking millions in bribes to overlook the bank fraud. Mr Fitrat has claimed to have made efforts to expose the fraud for which he faced threats in Kabul. He has said he will not return to Afghanistan over fears of threats against his life. Deputy Attorney General said the two former executives of Kabul Bank are presently in jug of Kabul detention facility and that they will soon be taken to attorney general detention facility. "Because we didn't want the case of Mr Fitrat to get repeated, and in order to prevent these two from fleeing the country, they were incarcerated yesterday and are now in Kabul detention facility," The fleeing governor of Afghanistan's Central Bank has also been accused by President Karzai's brother, Mahmoud Karzai, and other shareholders of Kabul Bank of having role in the crisis in the bank. Mahmoud Karzai has called on the United State to refuse to support Mr Fitrat. "Kabul Bank management was paying them money so they could stop reporting the issue. And after the reports reached the Attorney General's office, he decamped the country saying his life was in danger and he was threatened. It is all a big lie," Mahmoud Karzai said. Posted by: Fred 2011-07-01 |
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