Kun.uz has reviewed the criminal indictment against officials of both Panorama Airways and Gulbakhor Airways. According to the indictment, an individual identified as A.F. is charged under various articles of Uzbekistan’s Criminal Code as the unofficial head of both companies.

Overview of Gulbakhor Airways LLC

According to the indictment, A.F., a 43-year-old individual, unofficially managed Gulbakhor Airways LLC and convinced 2,454 people in January and February 2024 to pay 24 billion 233 million UZS (approximately $2 million) for Umrah trips, without depositing the funds into the company’s official accounts, instead pocketing the money.

An audit of Gulbakhor Airways revealed that from November 2023 to February 2024, another 42 billion 654 million UZS was not entered into the company’s accounts, bringing the total hidden funds to 66.8 billion UZS.

A.F. also allegedly defrauded a business partner, collecting $286,000 from 381 individuals for Umrah trips scheduled for January 2024 but never delivering the services.

A.F. claims the debts arose from selling tickets at a discount and argues that the audit’s findings of 66 billion UZS in unreported funds are incorrect.

 Panorama Airways LLC

The case also involves Panorama Airways LLC. As a private airline, Panorama Airways received 1 trillion 97 billion UZS (approximately $90 million) in payments for tickets between April 2023 and February 2024. However, A.F. and his associates failed to report 669 billion 350 million UZS of this income.

The indictment further states that the accused evaded taxes, including 3 billion 296 million UZS in VAT and nearly 25 billion UZS in profit tax.

A.F. allegedly tried to launder the proceeds of his criminal activities by purchasing two Mercedes Benz vehicles worth $325,000 and $375,000, making an initial payment of $150,000. Additionally, he agreed to buy singer Rayhon Ganieva’s house in the Mirzo Ulugbek district of Tashkent for $1.8 million, paying her $600,000 as part of the deal. This is considered part of the money laundering activities, according to the indictment.

A.F.’s Defense

During questioning, A.F. denied the charges, stating that he had not committed any crimes. He admitted that while his wife and brother-in-law were the registered founders of Panorama Airways (established in 2021) and Gulbakhor Airways (established in 2022), respectively, he was the actual beneficiary of both companies.