Hundreds of millions of dollars were spirited out of Afghanistan — some hidden in airline food trays — to bank accounts in more than two dozen countries in the huge fraud that led to the collapse of Kabul Bank, the nation’s largest financial institution.
An Independent Joint Anti-Corruption Monitoring and Evaluation Committee report has revealed new details about how fraudsters at Kabul Bank and their friends and relatives got rich using $861 million (£538 million) in fraudulent loans, fabricating company documents and using loans to pay back other loans.
It highlights poor oversight by banking regulators, political interference in the investigation and activities by a judicial tribunal hearing the case that it said were “well outside the legal norms of criminal procedure”.
