Kyrgyzstan: over 9 years, $ 1 billion was withdrawn from the country through corruption schemes
The State Committee for National Security established that in the period from 1993 to 2002, officials of the highest state bodies of the republic, in collusion with representatives of foreign banks, withdrew $ 1 billion from the country.
Money was withdrawn from the country under the pretext of developing food, light and pharmaceutical industries, as well as mining industry and construction of waste processing plants.
“For the specified period, such enterprises as Kara-Balta Mining Plant JSC, Jibek-Jolu JSC, Kazkommertsbank JSC, Zhyldyz JSC, Kyrgyzpotrebsoyuz JSC, Zhanar JSC, ChAK LLC (Chui Agroindustrial Company), Hotel and restaurant complex “Ala-Too”, Kyrgyz Agrobusiness Company OJSC, SE “Buudai” and other foreign banks under the guarantee of the government of Kyrgyzstan received more than 40 loans worth about $ 1 billion,” the press service of the State Committee for National Security reported.
As a collateral bond, the international banks were provided with a part of the republic’s gold and foreign exchange reserves for the amount of received loans. At the same time, the money did not go to the republic, but was transferred to the accounts of other foreign banks located abroad.
“Later, the enterprises-borrowers were declared bankrupt and liquidated, and foreign banks, after non-payment of loans, took the collateralized gold. The investigation also found that the state pays loans for individual loans to this day,” the State Committee said.
At present, the State Committee for National Security of the Kyrgyz Republic, within the framework of the pre-trial proceedings under Article 319 “Corruption” of the Criminal Code of the Kyrgyz Republic, is taking appropriate investigative and operational measures.
