Top manager of HIMA Corporation has got a lengthy jail term for embezzlement and misappropriation of funds.
A source within the Dushanbe city court says a court in Dushanbe’s Firdavsi districts sentenced Ismatullo Hayoyev, top manager of HIMA Corporation and HIMA Textiles, to eight years in prison at the beginning of this year. He will serve his term in a high-security penal colony.
His sentence reportedly followed his conviction on charges of embezzlement of funds provided in a form loan (Article 246 of Tajikistan’s Penal Code).
The source refrained from giving further details of the case.
Established in 1994, HIMA Corporation is a private company engaged in growing and processing raw cotton.
In recent years, HIMA Corporation has worked with farming units in Hisor, Yovon and Jomi districts. The company has two cotton ginning factories: one of the is located in Yovon district and another one is located in Hisor district.
Besides, HIMA Corporation launched a spinning mill in Hisor district in 1997.
As far as HIMA Textiles is concerned, it is considered one of leading companies in Tajikistan in the field of textile and light industries with an annual capacity of 3,000 tons of cotton fiber.
Ismatullo Hayoyev is the son of the Tajik veteran politician Izatullo Hayoyev (June 22, 1936 – April 25, 2015), who was the Vice President of Tajikistan between December, 1990 and June 25, 1991 and Prime Minister of Tajikistan between June 4, 1986 and November 30, 1990. Previously he served as Chairmen of the Council of Ministers of the Tajik Soviet Socialist Republic from January 4, 1986 until December 6, 1990.
Izatullo Hayoyev was considered was considered a close person to President Emomali Rahmon.
