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Uzbekistan

Fraudulent construction companies embezzled about 27 billion soums

Fraudulent construction companies embezzled about 27 billion soums
Fraudulent construction companies embezzled about 27 billion soums

Tashkent, Uzbekistan (UzDaily.uz) - Companies have been identified that deceived citizens and embezzled billions of money by selling housing for development in Tashkent.

Construction companies Arkenstone LLC and VescoCottage LLC, which are building cottages in the city of Tashkent, posted advertisements on social networks, thereby gaining the trust of our compatriots who want to buy a new home, and allegedly allowing them to make installment payments during 2022-2023.

The amount of the initial contribution was estimated at 125 million soums. Thus, the head of the LLC embezzled about 27 billion soums from citizens.

A criminal case has been opened.

Anvar Umarov
Anvar Umarov

Anvar Umarov is the founder and editor-in-chief of UzDaily, a leading business and news publication covering Uzbekistan and Central Asia. With over 20 years of experience in journalism, he has also worked as a PR manager for both state and private organizations, bringing a broad perspective on media, communications, and public affairs to his editorial leadership.