Our investment woes continue. Discussions to solve the problem did not work. Requests for holding emergency General Meeting was ignored, even though the law requires the meeting to be held. Request for financial information, participation in management and share in the distribution of profits was ignored, even though this is required by law.

There are plenty of laws. Nurgazy Nurgaziev ignored it. The government authorities were not enforcing it. What can we do? We decided to seek support from the Prime Minister’s office. We wanted the Prime Minister’s office to intervene and help resolve the problem. They could refer the case to an appropriate investigating body. Or write to Nurgazy, explaining why this could be detrimental to the economy. But that is not what happened.

Few days after sending our request to the Prime Minister’s office, we received a detailed email. A junior staff from the office met with Nurgazy and asked him many questions. It was like an investigation. This came as a shock. The Prime Minister’s office does not have authority and expertise to have such kinds of meetings. They had good intentions to help solve the problem. Unfortunately they way they got involved was detrimental.

In investigations, the element of surprise is important. The person being investigated should not become aware of the investigation, otherwise they can conceal or destroy evidence. They can transfer assets to other persons name. And this is exactly what happened. Nurgazy told me later that he transferred the business to his sister’s name to protect himself.

The detailed meeting notes that the staff sent me clearly showed that Nurgazy’s responses were contradictory. It was probably incriminating. Unfortunately the interview conducted by the Prime Minister’s office could not be used in evidence. I did send meeting notes to Financial Police when they investigated the case. No action was taken.

Whether or not the meeting was appropriate is perhaps irrelevant. As we found out later, even if there is incriminating evidence, that does not mean that legal action will be taken. Kyrgyzstan has weak rule of law, and high level of corruption. Seeking justice is a challenge. We know. We had the case investigated and closed four times by financial police. A criminal case was opened, suspended and the suspension lifted. We tried many different options, and we will keep trying until the issue is resolved.

Note: A criminal case is currently open. These are two most recent letters I received from the prosecutor.

уведомление

Opening of Criminal Case March 2018

Next article: Financial Police Investigation Number 1

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