Kabul Bank Was a Massive Ponzi Scheme: Audit

Its purpose: to benefit Karzai insiders

By Matt Cantor,  Newser Staff

Posted Nov 27, 2012 9:07 AM CST

(Newser) – Fraud was rampant at Kabul Bank—and a new report shows how deeply the corruption went. Indeed, "from its very beginning, the bank was a well-concealed Ponzi scheme," says an audit obtained by the New York Times. The bank's primary purpose, the...   Read full story »


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