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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…

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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