2 Indians involved in Kabul Bank fraud case: Report

November 28, 2012 21:08

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.

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