The State Committee for National Security is investigating a large-scale fraud scheme in construction and collateral lending.

In the Kyrgyz Republic, the State Committee for National Security (GKNB) has initiated an investigation into a large-scale fraud scheme related to construction and mortgage lending.

According to the press service of the agency, on January 19, a meeting was held at the main office of the GKNB of the Kyrgyz Republic, led by the head Kamchybek Tashiev, with citizens who became victims of a criminal case against citizen S.M.

At the meeting, which was also attended by the detainee himself, details of his criminal activities were disclosed. According to the GKNB, S.M., who has a criminal record, had been engaged in illegal activities in the pawnshop and usury sectors for a long time, providing loans on extremely unfavorable terms and at high interest rates, which allowed him to illegally seize the property of debtors.

The investigation revealed that the registration of residential and commercial properties was carried out through fictitious transactions involving dummy individuals and notaries under control. The criminal scheme was accompanied by threats and psychological pressure on the victims, as well as possibly connections with representatives of the authorities.

As part of the investigation, special attention is being paid to the activities of LLC "Expert Stroy" (Residential Complex "Silk Road") and LLC "Arz Development." S.M. provided two plots of land for shared construction but then obstructed the implementation of projects by initiating arrests and contract terminations, as well as making illegal demands to gain additional benefits.

As a result of his actions, 89 shareholders of the Residential Complex "Silk Road," LLC "Arz Development," and a number of individuals were harmed. The total damage is assessed as particularly large and includes illegal alienation of real estate, vehicles, and monetary funds.

Kamchybek Tashiev instructed GKNB employees to conduct an inspection of pawnshops, including the conditions for providing loans and the level of interest rates.

He emphasized that this criminal case is under his personal control, and responsible units of the GKNB have been instructed to fully and objectively clarify all circumstances, identify those involved, and take measures to maximize the compensation for the victims.