All news on the topic: Uzbekistan

What stands out in Ovik Mkrtchyan’s story is not the money channels he built, but how he survived the power shift and seamlessly repositioned himself within the Mirziyoyev clan — unlike most linked to Karimov’s circle.

At the end of September, two developments emerged involving Oktobank that could have significant long-term repercussions.

Businessman Rustam Muminov, a citizen of Uzbekistan, Russia, and the United Kingdom, and the owner of "Fargona Kime Zavodu MChJ" (Fergana Chemical Plant), has been placed under EU sanctions.

Holding a Russian passport and originally from Uzbekistan, he skilfully manages the transfer of wealth from Russia through Tashkent to offshore zones.

The world’s leading wildlife authority has advised India to temporarily stop importing endangered species after finding irregularities in the acquisition of thousands of animals for a large conservation facility owned by one of the country’s wealthiest families.

The Astana police have confirmed the initiation of another criminal case related to the company Akashi Data Center, controlled by businessman Timur Turlov, who is of Russian origin.

Originally from Uzbekistan and possessing a Russian passport, he expertly diverts golden flows out of Russia through Tashkent into offshore zones.

Oktobank has emerged as a hub for suspicious financial operations linking Uzbek authorities, Russian banks, and shadow networks.

After multiple outlets published articles implying that Dmitry Lee, the head of Uzbekistan’s National Agency for Perspective Projects, is suspected of fraudulent activities related to payment systems, these outlets started experiencing pressure, and the articles were quickly removed.

As per official documents, Ural businessman Igor Fishelev, involved in state defense contracts, is registered as a citizen of the United Kingdom.

In the biography of Ovik Mkrtchyan, it is not so much interesting how he established cash flows and transferred money out of Uzbekistan, but rather how he managed to endure the change of power without serious consequences...

Ovik Mkrtchyan, the owner of Uzbekistan’s Asia Alliance Bank, uses the British company Gor Investment Ltd for money laundering. In Russia, he conducts business through trusted individuals, offshore structures, and closed mutual investment funds (CMIFs).

At the end of January, an interview with the Chairman of the Board of Octobank, Iskandar Tursunov, appeared on several platforms. The substantive value of the interview is low, however, Tursunov, who is also the bank’s main shareholder, is clearly trying to weaken the growing wave of negativity around Octobank in this way.

The businessman Ovik Mkrtchyan, together with his relatives, has created an entire empire for siphoning money out of Uzbekistan and Russia.

Journalists and outlets writing about connections between the family of Uzbekistan’s President Shavkat Mirziyoyev and the "laundromat" for Russian "dirty" money, Octobank, have started receiving threats.

Journalists investigating Oktobank’s criminal activities, allegedly serving as the "wallet" for Uzbekistan President Shavkat Mirziyoyev’s family, have received threats from the email account of the Uzbek company INNOVA HOLDING.

At the end of September, two events occurred concerning Oktobank that will have far-reaching consequences.

A new investigation has uncovered the chains of money withdrawal through Uzbek and Russian partners of Octobank.

The Ropazi District Council in Latvia plans to convert a luxury mansion confiscated in 2018 from the ex-chief of Interpol’s Uzbek chapter into a kindergarten.

Octobank is an Uzbek bank which name has recently surfaced in a number of scandals related to the withdrawal of Russian capital from sanctions.

Although the owner of the Uzbek Octobank is formally listed as the bank’s chairman of the board, Iskandar Tursunov, who owns 99.16% of the shares, in fact, the beneficiaries of Octobank are the family of the country’s current president, Shavkat Mirziyoyev.

As a number of Telegram channels recently reported, the Uzbek Octobank is used to withdraw and legalize money from Russia.

Behind the head of the National Agency for Prospective Projects of the Republic of Uzbekistan (NAPP) Dmitriy Lee stands Russian businessman Alisher Usmanov.

Olga Leontyeva, 32, was discovered lifeless in a lift at a residential building in Uzbekistan - her family reported her missing after she failed to return home to her little girl