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Punishment for economic crimes mitigated in Uzbekistan

Uzbekistan Materials 7 January 2013 15:31 (UTC +04:00)
Individuals who committed crimes under several articles of Uzbekistan’s Criminal Code and Criminal Procedure Code may be exempt from criminal liability in the case of their admitting their guilt, reconcile with victims and undo the damage created.
Punishment for economic crimes mitigated in Uzbekistan

Uzbekistan, Tashkent, Jan. 7 / Trend D.Azizov /

Individuals who committed crimes under several articles of Uzbekistan's Criminal Code and Criminal Procedure Code may be exempt from criminal liability in the case of their admitting their guilt, reconcile with victims and undo the damage created.

This is provided by the law 'On amendments and additions to some legislative acts of the Republic of Uzbekistan', which came into force late last week.

Payback period of conviction fees has also been significantly reduced. The court may eliminate the previous conviction in the absence of major damage to the state after serving at least a quarter of their sentence.

According to the law articles, major damage is the damage equal to 500 minimum monthly wages (MW). At present the amount of minimum wage in Uzbekistan stands at 79,590 soums.

These measures are provided for those convicted of hiding foreign currency, false entrepreneurship and bankruptcy, concealment of bankruptcy, violation of customs and antimonopoly legislation, tax evasion and employment activities without a licence and illegal collection, dissemination or use of information, defamation of a competitor.

Earlier cancellation of a criminal record was possible after serving at least a half the sentence.

According to the changes introduced to the Uzbek Criminal Code, criminal cases on embezzlement by appropriation or peculation, causing property damage by fraud or abuse of confidence, improper attitude towards protection of property, intentional destruction or damage of property committed against a legal entity or its employees who does not have a government stake in the share capital will be initiated only at the request of the head, owner or manager of the economic entity.

Furthermore, employees of banks and other financial institutions will not be held criminally liable in cases when business actors do not fulfil contractual obligations to them for rendered services relating to business and other commercial risks, including issued loans.

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