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Karzai's Brother Skirts Kabul Bank Freeze

Afghanistan's top bank teeters on the brink

By Kevin Spak, Newser Staff

Posted Sep 6, 2010 1:20 PM CDT

(Newser) – With Kabul Bank in crisis, authorities in Afghanistan have frozen some assets of all the bank’s principal owners—except for Mahmoud Karzai, brother of Afghan President Hamid Karzai. The Afghan Central Bank has sent a letter banning the bank’s owners from selling property, the Washington Post reports, but it conspicuously omits Karzai, the banks third-largest shareholder.

Karzai says there’s a simple reason he was spared. “They couldn’t freeze my property, because I don’t have it,” he said. “I don’t have a single house or parcel of land in my name in Afghanistan.” Karzai lives in a rented property in Kabul, and spends most of his time in Dubai, where he owns a $5.5 million luxury villa. He purchased the villa with Kabul Bank funds. Critics suspect he also owns property in Afghanistan, under the names of friends or relatives, but others dismiss those allegations as political smears.

Afghans wait to get money from Kabul Bank in Kabul, Afghanistan, Monday, Sept. 6, 2010. (AP Photo/Musadeq Sadeq)

Afghanistan President Hamid Karzai, during a press conference with Robert Gates, Sept. 2, 2010. (AP Photo/Mustafa Quraishi)

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COMMENTS

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Showing 3 of 5 comments

brawne

Sep 7, 2010 12:54 AM CDT

Oh, I remember this guy when he was just a refuge from his own country prowling around Washington yakking about the Taliban. The Taliban was birthed because of this guy. Imagine the tea party times a million. They got a little sick of getting screwed and went all crazy, religious wacko. And when the Taliban blew up the Buddhist shrine and we all knew they were nuts--we didn't do a thing to support the moderate guy. You know the guy that Al Queda blew up on 9/10? Two Al Queda guys on a suicide mission to make the Taliban happy because the next day--they knew that they'd need some help. The only thing Al Queda and the Taliban have in common--us. This guy? Karazai? He's like having a pig at your truffle party.

Shawn_The_Bohn

Sep 6, 2010 6:45 PM CDT

They learned well from the ass hats that put them in power.

stevsie

Sep 6, 2010 2:45 PM CDT

why would we expect anything else???

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Karzai's Brother Skirts Kabul Bank Freeze

Afghanistan's top bank teeters on the brink

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