Uzbek ex-oil chief, 8 others face 10 years for $50M embezzlement
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Former chairman of Uzbekneftegaz Bakhadyr Siddikov and eight other defendants, including executives from Enter Engineering and Eriell, have been sent to trial on embezzlement charges. The case, heard in open court at Yashnabad District Court, involves the alleged theft of 643 billion soums ($50 million) from the state budget.
The Charges
Siddikov faces multiple counts under Articles 167 (embezzlement), 205 (abuse of power), and 209 (official forgery) of the Criminal Code, according to Nova24 and Podrobno.uz. The other eight defendants include Ulugbek Usmanov, general director of Enter Engineering Pte. Ltd; Nodirjon Boboev, director of Eriell Management; and former Uzbekneftegaz deputy chairman Bakhtiyar Anarkulov. The alleged scheme involved a conspiracy to siphon state funds through inflated contracts and kickbacks.
Investigation Timeline
Siddikov was detained in January 2026, one month after resigning as chairman of Uzbekneftegaz, a post he held since March 2023, Podrobno.uz reported. The case was transferred to Yashnabad District Court in Tashkent, where proceedings are being held publicly. The total alleged embezzlement amounts to 643 billion soums, equivalent to roughly $50 million at current exchange rates.
What's Next
The court is expected to hear testimony from witnesses and examine financial documents in the coming weeks. It remains unclear whether the defendants will plead guilty or if additional suspects may be charged as the investigation continues.
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Uzbek ex-oil chief, 8 others face 10 years for $50M embezzlement
