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Uzbekistan: Renowned Banker Released After 19 Years in Jail

The founder of Uzbekistan’s first privately run bank has been released from jail after 19 years of a sentence that was, rights advocates say, arbitrarily extended.

RFE/RL’s Uzbek service, Ozodlik, cited a relative of Rustam Usmanov as saying he was released on February 13. 

“We met him at Zhaslyk prison and brought him to Tashkent. His state of health is poor and he is now receiving treatment. But he is in good spirit and he thanks [President Shavkat] Mirziyoyev,” the family member told Ozodlik.

Usmanov, 69, was convicted of fraud in 1998 and sentenced to 14 years in jail. His sentence was due to expire in 2012, but was extended by another five years.

He is best known for setting up Rustambank in the early 1990s, but earlier, in 1987, he set up a cooperative company producing honey. Usmanov then branched out into breeding and selling earthworms. Those enterprises turned him into a dollar millionaire and so, in 1992, he opened the country’s first private lender with a registered capital of $1.2 million.

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Uzbekistan: Renowned Banker Released After 19 Years in Jail

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