The Anti-Corruption Service of the State Committee for National Security of Kyrgyzstan revealed a scheme, using which the top officials of Kyrgyzstan, in collusion with representatives of foreign banks, had illegally transferred loan funds from the republic from 1993 to 2002. The press service of the state committee reported this today.
The loans were taken under the pretext of developing food, light and pharmaceutical industries, mining, construction, as well as waste processing plants.
«It has been found out that for the specified period, such enterprises as Kara-Balta Mining Plant JSC, Zhibek-Zholu JSC, Kazkommertsbank OJSC, Zhyldyz JSC, Kyrgyzpotrebsoyuz, Zhanar JSC, ChAC (Chui Agroindustrial Company) LLC, Hotel and restaurant complex Ala-Too, Kyrgyz Agrobusiness Company, Buudai state enterprise and other foreign banks took more than 40 loans for about $ 1 billion under the guarantee of the government of the Kyrgyz Republic,» the State Committee for National Security said.
As a pledge obligation, international banks, according to the state committee, were provided with a part of the republic’s gold and foreign exchange reserves. At the same time, the received loan funds were not transferred to Kyrgyzstan, but to the accounts of other foreign banks located abroad. Subsequently, the enterprises were declared bankrupt and liquidated, and foreign banks, after non-payment of loans, took their collateralized gold.
The investigators also found out that the state is paying off some of the loans up to this day. A criminal case was opened on the fact of corruption.