Credit House case goes to court as losses reportedly top UZS 1 trillion

Investigators have previously announced that the criminal investigation into Credit House and In Fin Stroy Invest – companies that allegedly promised easy home purchases in Tashkent – has been completed and the case has been forwarded to court for substantive consideration.

The case will be heard by Judge Bahodir Qayumov of the Yakkasaray District Criminal Court. The first hearing is scheduled for December 25 at 2:00 p.m., according to the Supreme Court’s online court schedule, which also confirms that there are 1,766 recognized victims in the case.

As a reminder, nine individuals have been charged in the Credit House case, which allegedly defrauded thousands of people in Tashkent by promising housing on simplified terms.

Those charged include Bakhtiyor Amzayev, Dmitry Bazhenov, Robiya Galyamova, Klara Talipova, Gairat Mirkamalov, and Bahrom Hikmatullayev. They face charges under multiple articles of the Criminal Code, including large-scale fraud committed by an organized group, causing property damage, illegal circulation of large amounts of foreign currency, concealment of foreign currency, large-scale tax or fee evasion, violations of trade or service provision rules, abuse of authority by officials of non-state commercial or other non-state organizations, and legalization of proceeds derived from criminal activity.

In addition, Alisher Shamsiddinov has been charged under articles related to large-scale fraud, property damage, illegal circulation of foreign currency, abuse of authority, and money laundering. Shoira Rahimova and Shukhrat Mahamadov face similar charges, including large-scale fraud, property damage, illegal currency transactions, concealment of foreign currency, abuse of authority, and money laundering.

The exact amount of damage inflicted on victims has not yet been disclosed. Investigative authorities have not made this information public. However, sources at Kun.uz say total losses exceed UZS 1 trillion. If confirmed, this would represent the largest fraud case in Uzbekistan by financial scale to date.