Law enforcement authorities in Uzbekistan's Surkhandarya region have uncovered a scheme to embezzle credit funds totaling 25 billion soums (approximately $2.1 million). According to the investigation, a local businessman and his accomplices obtained a large loan by re-pledging property using forged documents.

The press service of the Department under the Prosecutor General's Office reported that the buildings and structures owned by the businessman were already pledged as collateral for a previously issued loan at a bank in Surkhandarya region.

Investigators allege that the suspects fabricated documents and used them to re-pledge the same property at a bank in the Andijan region. Based on these fictitious documents, the financial institution issued a loan of 25 billion soums. The funds, according to the authorities, were subsequently embezzled.

A criminal case has been opened in connection with the incident, and investigative actions are underway to establish all circumstances of the crime.

This case follows a recent incident in which a former employee of the National Bank of Uzbekistan in Fergana was sentenced to 8.5 years in prison for embezzling client and bank funds totaling nearly 1.5 billion soums, highlighting ongoing concerns about financial oversight in the country.

Source: podrobno.uz