Bank department head faces charges over $120,000 loan embezzlement

Law enforcement authorities have uncovered a scheme in which a bank official and his accomplices allegedly embezzled $120,000 in loan funds and spent the money on online gambling and risk-based games.

According to the Department under the Prosecutor General’s Office, the case was identified during a pre-investigation inquiry conducted by the Yashnobod district department following a complaint from a commercial bank.

The investigation found that the head of a department at the Yashnobod branch of an unnamed bank, identified as E.N., acted in collusion with representatives of one company and other individuals. Through this scheme, they arranged for a $120,000 loan to be issued in the name of another company. The loan funds were subsequently cashed out using forged documents.

Investigators say the illegally obtained money was then used for online gambling and games based on chance and high risk, resulting in the misappropriation of the full amount.

A criminal case has been opened under Article 167 of the Criminal Code (embezzlement) and Article 228 (forgery). Investigative actions are currently under way.