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Former Kabul Bank CEO Khalilulah Ferozi jailed for 10 years
The second session of the appellate court of Kabul Bank case held on Tuesday that the former Kabul Bank CEO Khalilulah Ferozi was jailed for ten years.
According to the appellate court, Khalilulah Ferozi, the former Kabul Bank CEO was awarded a fine $ 137 million for the embezzlement of Kabul Bank funds.
The former chairman of Kabul Bank Sherkhan Farnood has also been sentenced to10 years in jail.
Farnood was charged with embezzlement of $1 billion of the bank’s funds.
In addition all movable and immovable properties of Khalilulah Ferozi and Sherkhan Farnood must be seized based on the primary court verdict.
In the meantime, Omar Zakhail Wal, the acting finance minister rejected accusations about the Kabul Bank case and is said to consider himself the savior of expansion of the Kabul Bank crisis and the collapse of Afghanistan banking system.
Kabul Bank, one of the largest financial institution of Afghanistan founded in 2004 collapsed in 2010 as one of the world’s largest banking fraud.