September 22, 2018

Demise of the former chairman of Kabul Bank ‘mysterious’, claims Noor

By Khaama Press - Sat Aug 25 2018, 10:10 pm

The Chief Executive of Jamiat Islami Ata Mohammad Noor has described the demise of the former chairman of Kabul Bank Sher Khan Farnood as mysterious.

Noor issued a statement after the death of Mr. Farnood was confirmed on Friday with the sources saying the former chairman of Kabul bank has passed away due to the illness he was suffering from.

In the meantime, Noor said Mr. Farnood became a victim of conspiracies, was jailed and his properties, assets, and fortune were confiscated.

He also expressed hopes that the circumstances surrounding the death of Mr. Farnood would be ascertained.

Informed sources on Friday confirmed that Mr. Farnood has died at the age of 57 in Bagram prison due to the illness he was suffering from.

Kabul Bank was seized by the government in 2010 after the exposure of a staggering $900 million fraud, which led the International Monetary Fund to temporarily halt its hundreds of millions of dollars of loans to the country.

Kabul Bank was one of Afghanistan’s largest private financial institutions founded in 2004 by Sherkhan Farnood, who was an international prominent poker player.

Khalilullah Ferozi, the former chief executive of the bank, was another key staff.

Both Sher Khan Farnood and Khalilullah Ferozi were sentenced to ten years in jail by the Appellate Court nearly four years ago after they were found guilty of involvement in the embezzlement of the bank’s funds.

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