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Kyrgyzstan: Major Money Laundering Case Exposed

Anticorruption officials in Kyrgyzstan say they have exposed a $58 million money laundering operation — the largest ever seen in the country’s history.

The graft-fighting department at the State National Security Committee (GKNB) said on January 20 that the cash was laundered by a construction company called LLC Berkut Stroi, which they said was based in the southern city of Osh.

The GKNB say two employees of a commercial bank in Osh, Amanbank, registered the construction company in the name of Kanybek M. They then opened bank accounts in Amanbank and another bank, Rosinbank.

The next step was to sign bogus contracts for the purchase of construction materials from companies in China and Latvia, to which the 4.4 billion Kyrgyz som ($58 million) were transferred between January and October 2014. Meanwhile, tax records at Berkut Stroi reflected no economic activity.

The man identified as the founder of Berkt Stroi, whose name can only be given as Kanybek M., said he had no idea of what business was being done by the company he purportedly controlled.

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Kyrgyzstan: Major Money Laundering Case Exposed

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