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Afghan President orders release of main suspect in bankruptcy of Kabul Bank

Devdiscourse News Desk | Kabul | Updated: 14-08-2019 20:02 IST | Created: 14-08-2019 19:30 IST
Afghan President orders release of main suspect in bankruptcy of Kabul Bank
Afghanistan President Ashraf Ghani Image Credit: ANI

The President of Afghanistan has ordered in a decree the release of ex-CEO of Kabul Bank Khalilullah Frozi, according to local media organization Tolo News. Khalilullah Frozi is also the main suspect in the bankruptcy case of Kabul Bank.

Kabul Bank, once the country's largest financial institution, collapsed in 2010 in one of the largest banking scandals in the country's history.

The former chairman of Kabul Bank, Sherkhan Farnood, and CEO Khalilullah Frozi were sacked from their positions and arrested over the embezzlement of more than USD 900 million in cash and assets.

Frozi and Farnood were sentenced each to 10 years in jail in 2014 after they were found guilty in the collapse of Kabul Bank.

Farnood died in August last year while serving his sentence at Bagram Prison.


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