Our story, we invested in Kyrgyzstan and faced problems soon afterwards. Negotiations and discussions to solve the problem failed. It became clear that Nurgazy Nurgaziev, the local shareholder, wanted more money. Giving more money would have solved the problem, temporarily at least.

We asked Financial Police and its successor, State Service for Combating Economic Crimes (GSPEB), for assistance. They opened and closed investigations 4 times, sometimes without justification. We then managed to get a criminal case opened. The case was suspended. We wrote to the President of Kyrgyzstan and got the suspension lifted.

So far the legal process has been relatively ineffective. Why? Generally speaking, there are a number of reasons. Corruption is probably the most important reason. Another reason is the capacity. You need skilled staff and a process for investigating problems.

We noticed flaws in the process right from the start. Before contacting Financial Police, we asked Prime Minister’s office for assistance. Prime Minister’s office was willing to help, which is great. We expected them to refer the case to an appropriate investigating body. Or write to Nurgazy, explaining why this could be detrimental to the economy. Unfortunately this is not what happened. 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.

We have worked with many different investigators. Some of them were very good, and they had good intentions. They made good progress with investigations, until they were no longer working on the case. They got assigned to other cases, or get transferred to another department or agency.

There are challenges to investor related problems. We tried many different approaches. What we did not try until now was publicity. That is what we are doing now. We still have more legal processes to follow.

Note: A criminal case is currently open. Opening of Criminal Case March 2018

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