08:19 lunedì 01.06.2020

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The Kabul banker who almost brought Afghanistan to its knees dies in prison
From The National World
27-08-2018 - At the height of his powers, Sherkhan Farnood was a free-wheeling poster boy for Afghanistan's surging economy.
The owner of at least 16 luxury Dubai properties and a regular fixture at the tables of the international poker circuit, he had come a long way from running a humble informal ‘hawala’ money transfer from his university dorm.
Yet the former chairman of Afghanistan's largest private bank last week died in an Afghan prison serving 15 years for money laundering and embezzlement.
His death marked the end of an extraordinary rise-and-fall that saw him ride the chaos of post-Soviet Moscow and then return to found Kabul Bank, before orchestrating a fraud that nearly ruined his homeland.
The demise of Kabul Bank was proportionately one of the largest financial scandals ever and became symbolic of the West's frustration at the crony capitalism of Hamid Karzai's government. The brazen corruption behind the scandal shook American faith in its nation-building ambitions.
Farnood died at the age of 57 from an undisclosed illness while being held in prison north of Kabul, Tolo News reported.

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