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Warrants issued in Kabul Bank case

Last modified: 4 Jun 2012 07:30

Rahmatullah Nazari, deputy attorney general, has said that 35 people, including former executives, have been referred to a special tribunal for trial in the Kabul Bank scandal.

Arrest warrants have been issued for the culprits including Abdul Fitrat, the former central bank governor now living in the United States.

According to Nazari, Fitrat is among 14 of the accused currently living abroad.

The suspects are being accused of fraud in the scandal that pushed the institution to the point of collapse in 2010 the AFP news agency reports.

Now named the "New Kabul Bank", the Central Asian nation's largest private lender was bailed  out by the administration of Hamid Karzai, the Afghan president, after its former bosses failed to return the $900mn they had secretly taken in off-book loans.

Nazari said if assets seized from the bank's former bosses and shareholders -- including properties in Dubai -- fetched good prices they could
raise over $600mn.