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2 Indians involved in Kabul Bank fraud case: Report
November 28, 2012
Fraudulent lending and embezzlement by officials, including at least two Indian citizens, led to the failure of Afghanistan's Kabul Bank, resulting in the misuse of about US$ 935 million Afghan public money, according to an independent report released today.
The 87-page Report of the Public Inquiry into the Kabul Bank Crisis, prepared by the Independent Joint Anti-Corruption Monitoring and Evaluation Committee, was released in Kabul.
As per the report, the bank's controlling shareholders, key supervisors and managers led a sophisticated operation of fraudulent lending and embezzlement, mainly through a loan-book scheme.