1 billion soums were looted in Bekobod

In the Bekobod district of the Tashkent region, a case of looting loan funds worth 1 billion 82 million soums was uncovered. This incident was reported by the State Security Service.

According to the decision of the President of the Republic of Uzbekistan No. 4576 of 2020, titled "On Additional Measures of State Support for the Livestock Sector," the joint-stock commercial bank in the Bekobod district conducted inspections to ensure the proper use of loan funds allocated to the livestock sector.

In 2020, "BF" LLC, which specializes in the production of milk and dairy products and the breeding of purebred cattle in the Bekobod district, was allocated loan funds to import 65 purebred cattle from Austria. The bank issued a loan of 1 billion 680 million soums, with an annual interest rate of 19% over a period of 7 years, including a 2-year grace period. Of this amount, 3% was to be covered by the state fund for the support of business development under the Cabinet of Ministers.

However, the business plan submitted by the LLC, which included the production of dairy products and the breeding of purebred cattle through two generations, was not followed. Instead, 44 of the breeding cattle were sold for cash. As a result, 1 billion 82 million soums of the loan funds were misappropriated. Additionally, the bank failed to monitor the proper use of the allocated loan funds.

Currently, a criminal case has been initiated against the officials of the LLC under Article 167 (Embezzlement or misappropriation), paragraph 3, subparagraph "a," and Article 192-11 (Abuse of power by officials in a non-state commercial organization), part 2, subparagraph "a" of the Criminal Code. Bank officials are also facing charges under part 1 of Article 207 (Negligence) of the Criminal Code, and investigative actions are underway.

It is worth noting that earlier in Fergana, lawyers were caught receiving 50 thousand dollars in bribes.