State newspaper Neutral Turkmenistan reports that the 10 men were found guilty of extorting $4.8 million from construction companies.
The publicity surrounding this case and the decision to broadcast the verdict was unprecedented in Turkmenistan as the judicial system is typically inaccessible. Though uncharacteristic for the government, the televised nature of the trial was meant to highlight the government’s effort to combat corruption in the banking system.
Earlier this month President Berdymukhamedov fired the head of the Central Bank for “grave deficiencies in the work of the banking system,” according to Reuters. Berdymukhamedov stated that these actions will “serve as a good lesson for those who…try to cheat and take bribes to gain illegal wealth.”
According to The Financial Times, the state television showed Begdzhanov admitting to his crimes claiming “I held a responsible job in which I embarked on a path of illegal enrichment. I extorted money from businessmen worth a total of $3.6m. I repent of the grave crimes I have committed.”
The Associated Press posits that this sudden and swift anti-corruption effort was an attempt to quell the fears of foreign investors. Currently a group of Turkish companies, who are responsible for all major construction projects in Turkmenistan plan to seek legal action against the government for more than $1 billion in debt to the companies.
According to a leaked US government cable on WikiLeaks, the constriction industry is the “most visibly corrupt industry,” in Turkmenistan.
