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| Afghanistan |
| Kabul Bank fraud: Afghan court increases jail terms |
| 2014-11-12 |
| [BBC] An Afghan court has increased the jail sentences for two brass hats at Kabul Bank, which collapsed in 2010 after losing almost $1bn (£630m). Former chairman Sherkhan Farnood, and the bank's CEO Khalilullah Ferozi, were enjugged Youse'll never take me alive coppers!... [BANG!]... Ow!... I quit! for five years in 2013. They appealed but have now each been sentenced to five years for money laundering and 10 for embezzlement. The losses at Kabul Bank amounted to about 5% of the country's economy. Most of the money is yet to be recovered. It was one of the world's biggest banking scandals, involving a brother of the former president, Hamid Maybe I'll join the TalibanKarzai ... A former Baltimore restaurateur, now 12th and current President of Afghanistan, displacing the legitimate president Rabbani in December 2004. He was installed as the dominant political figure after the removal of the Taliban regime in late 2001 in a vain attempt to put a Pashtunface on the successor state to the Taliban. After the 2004 presidential election, he was declared president regardless of what the actual vote count was. He won a second, even more dubious, five-year-term after the 2009 presidential election. His grip on reality has been slipping steadily since around 2007, probably from heavy drug use... The bank handled payroll for government employees like teachers and coppers, but had to be bailed out by international donors when the scale of the losses emerged. |
| Posted by:Fred |
| #1 I wonder if we can get this court jurisdiction over some of our own banks... |
| Posted by: Glenmore 2014-11-12 11:53 |