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Editors

Harry Cassin Publisher and Editor

Andy Spalding Senior Editor

Jessica Tillipman Senior Editor

Richard L. Cassin Editor at Large

Elizabeth K. Spahn Editor Emeritus 

Cody Worthington Contributing Editor

Julie DiMauro Contributing Editor

Thomas Fox Contributing Editor

Marc Alain Bohn Contributing Editor

Bill Waite Contributing Editor

Shruti J. Shah Contributing Editor

Russell A. Stamets Contributing Editor

Richard Bistrong Contributing Editor 

Eric Carlson Contributing Editor

Bill Steinman Contributing Editor

Aarti Maharaj Contributing Editor


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Tuesday
Mar052013

Kabul Bank bosses jailed for corruption

An Afghan judge Tuesday sentenced the two former heads of what was once Afghanistan's largest bank to five years in prison for involvement in the massive fraud scandal that brought the bank down in 2010.

Judge Shamsul Rahman Shams sentenced former Kabul Bank chairman Sherkhan Farnood and the bank's former chief executive officer, Khalilullah Ferozi. The two men are also required to pay back the money stolen -- some $531 million by Ferozi and $279 million by Farnood.

Twenty other defendants were also convicted in Tuesday's ruling. They have the right to appeal.

These are the first convictions for the Kabul Bank collapse, which saw hundreds of millions of dollars disappear in fraudulent loans.

The bank was bailed out by the government and relaunched as New Kabul Bank.

Tuesday's proceedings were expected to be seen as a measure of the government's commitment to fighting corruption, something international aid donors are demanding.

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