DUSHANBE, May 22, 2013, Asia-Plus — The half-finished facilities (eight apartment buildings) of Tajikistan’s largest real estate development company, Movarounnahr, which were supposed to be put up for sale, are expected to be handed over to shareholders.
“On May 20, a court in Dushanbe’s Sino district considered a lawsuit filed by Movarounnahr’s customers and ruled that the half-finished facilities should be handed over to Movarounnahr’s customers,” Buzurgmehr Yorov, an accredited representative of Movarounnahr told Asia-Plus in an interview.
According to him, some 250 customers of Movarounnahr attended the hearing. “In a ruling handed down on May 20, the court also overturned the decision of bailiffs on seizing the company’s property,” Yorov noted.
We will recall that Movarounnahr’s customers were going to a demonstration outside the parliament building on June 3 in order to draw the leadership of the Tajik government”s attention to the problem of the half-finished eight apartment buildings that were supposed to be put up for sale. Some 800 customers were expected to participate in the demonstration.
The Movarounnahr top manager Jourabek Okhonov was arrested on November 2010. He was sentenced to 14 years in prison on July 5, 2012. The sentence followed his conviction on charges of a large-scale fraud, illegal entrepreneurship, and causing property loss by deception or abuse of confidence and misappropriation.
The appeals court of Tajikistan”s Supreme Court considered an appeal by Jourabek Okhonov’s lawyers and partially acquitted him. The charge of causing property damage by deception or abuse of confidence was dropped and the court reduced Okhonov’s jail term by six months.
Currently, Jourabek Okhonov’s brother, Tourabek Okhonov is acting director of Movarounnahr.
