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Uzbekistan Arrests Its Own Bernie Madoff

Uzbekistan is all a-hubbub these days over the case of a prominent businessman facing charges of fraud for his creation of what amounts to a crude pyramid scheme.

State television station Channel One on July 1 aired a second program in quick succession about the arrest of Ahmad Tursunbayev, who went popularly by the name Ahmadbai Chinazsky.

Tursunbayev’s arrest, in the middle of June, came as a major surprise to many.

According to Uzbek TV, 38-year old Tursunbayev and a group of around 30 collaborators duped people into handing over their savings with promises they would provide a minimum 100 percent return within the year.

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Uzbekistan Arrests Its Own Bernie Madoff

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