Regional prosecutor’s office provides additional information about the financial pyramid in Kashkadarya 

“Criminal proceedings have been instituted against those who organized a financial pyramid in Kashkadarya by selling counterfeit stocks to citizens.

It was identified that the unofficial representative of the foreign company “Nasdaq Unique Finance” in the Kashkadarya region T. Rizayev together with his criminal partners violated the requirements of the presidential decree PQ-3832 “On measures to develop the digital economy in the Republic of Uzbekistan”, dated 03.07.2018. They connected to the Internet via telephones and spread false information to more than two thousand people about paying interest on the purchase of shares of foreign companies. They gained the trust of the people and collected $9 million fraudulently, legalized the proceeds derived from criminal activities.

On this fact, a criminal case has been initiated under Part 3, Article 168 (Paragraph “a”) of the Criminal Code.

An operational-investigative group headed by the regional prosecutor, consisting of employees of the prosecutor’s office, the police department, has been formed and preliminary investigation is underway.

In order to prevent the concealment of criminally obtained property from the investigation, 9 cars and work-related documents were seized during searches in the Kashkadarya region, Tashkent and Jizzakh cities.

On September 15, 2020, T. Rizayev, M. Rizayev and Sh. Abdurakhmanov were involved in the case as suspects under relevant articles of the Criminal Code. They were remanded in custody by court order dated 16.09.2020,” the statement of the regional prosecutor’s office reads.

For information, the Capital Market Development Agency warned in February that signs of a financial pyramid had been identified in the activities of “Nasdaq Unique Finance”.