Turkmenistan

Turkmen central bank chief fired for embezzlement

Shekersoltan Muhammedova, the acting governor of Turkmenistan's central bank, was sacked this week for "grave shortcomings and embezzlement of state funds," according to the BBC Monitoring Service which quoted the translation of a report on Turkmen TV…

Russian court orders arrest of ex Turkmen c banker

The Russian courts have ordered the arrest of Hudayberdi Orazow, former chairman of the central bank of Turkmenistan who fled to Russi, according to the Turkmen Press news agency.. Orazow left Turkmenistan when wanted by the Turkmen authorities in…

Former Turkmen central banker gets 'life' - report

A report on Monday said that the former president of Turkmenistan's central bank Hudayberdi Orazov, who headed the central bank for six years from 1993 to 1999, has been given a life jail sentence (in his absence) for his involvement in the recent…

Former Turkmen central bank chiefs trial starts

Thirty-two members of a conspiracy to assassinate Turkmen President Saparmurat Niyazov and overthrow the government will face trial this week. Hudaiberdy Orazov, former head of the central bank of Turkmenistan is one of those charged.

Turkmenistan's head tightens currency regulation

TURKMENISTAN - At a recent meeting with the heads of law-enforcement bodies and military departments, Turkmen President Saparmyrat [Nyyazow] Turkmenbasy signed a resolution on priority measures to tighten currency regulation.

Turkmen leader sacks Central Bank chairman

TURKMENISTAN - Turkmen President Saparmyrat Nyyazow has dismissed the chairman of Turkmenistan's Central Bank, Seyitbay Gandymow, for allegedly embezzling state funds, appointing his relatives to lucrative posts and buying up land. Gandymow was also…

Ex-Turkmenistan banker accused of loan fraud

TURKMENISTAN - The top prosecutor's office has accused a former central-bank chief of embezzling $120 million in German and Swiss loans in one of this isolated nation's biggest corruption scandals since independence from the Soviet Union, according to…

Turkmenistan leader slams central bank chief

TURKMENISTAN - At a government meeting on 6 August, Turkmen President Saparmyrat Niyazov harshly criticized the head of the Central Bank for failing to prevent embezzlement of state funds and for using his position to promote people without merit.

Turkmenistan cbank funds Boeing aircraft purchase

Turkmenistan's central bank said on Feb. 2 it helped finance the purchase of a Boeing 757-200 aircraft for Turkmenistan Airlines valued at $70 million. Turkmenistan Airlines borrowed $48.3 million from the central bank to buy the new plane. The airliner…

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