KABUL – An Afghan appeals court on Tuesday sentenced two officials to 15-year terms in a multi-million dollar bank fraud case that led to the collapse of Kabul Bank, the country’s largest private bank.
The officials sentenced were the bank’s founding Chairman, Sher Khan Farnood, and its former chief executive, Khalil Ferozi.
Farnood was fined 237 million dollars, while Ferozi was fined 137 million dollars.
The judge ordered that the property of two powerful shareholders, Mahmood Karzai, the brother of then President Hamid Karzai, and Hasin Fahim, the brother of former vice president Qasim Fahim, be seized by the Government.
Kabul Bank went under in 2010 after media reports exposed the misappropriation of over 900 million dollars. (dpa/NAN)