Criminal case opened against “Imarat Development” management for fraud

A serious conflict has erupted around the Tashkent-based construction company “Imarat Development.” A criminal case has been initiated against the company's management regarding fraud and abuse of office. Meanwhile, Marat Hamdamov, known as the company's founder, has stated through video messages on social media that he is facing pressure and threats.

According to the Tashkent City Department of Internal Affairs, the multi-story buildings planned for construction by “Imarat Development” were intended to be built not in Tashkent city, but in the Quyichirchiq district of the Tashkent region.

Dissatisfied with this situation, some buyers demanded a refund of the money they had previously paid for the apartments. However, the company did not return their funds.

In connection with this situation, the Investigation Department of the Tashkent City Department of Internal Affairs has opened a criminal case under Article 168 (fraud) and Article 192-11 (abuse of authority by officials in non-state organizations) of the Criminal Code.

Currently, the investigation is being conducted under the supervision of the city police department and the prosecutor's office.

Marat Hamdamov: “I will not give the company to anyone”

Against the backdrop of these events, Marat Hamdamov, known as the founder of “Imarat Development,” posted a series of video messages on his Instagram page. He claimed that attempts are being made to seize the company from him and that he and his loved ones are being subjected to pressure and threats.

According to Hamdamov, over the past month, a group of individuals has attempted to take the company away from him. He stated that he would not leave the ranks of the founders, would not give the company to anyone, and would fulfill all obligations to the buyers.

The entrepreneur emphasized that various threats have been made against him and his family members, including death threats. He also stated that he was demanded to leave the country and stay off social media, and that he was prevented from entering the company's office.

According to him, certain individuals also planned to mortgage completed housing belonging to clients to a bank to obtain loans. Hamdamov stated that he opposed such a plan and decided to protect the interests of the apartment buyers.

The entrepreneur also announced that he had filed an official complaint with law enforcement agencies regarding these incidents.

Why was the company name changed to “Imtiyaz”?

In his second video message, Marat Hamdamov also addressed the change of the company's name from “Imarat Development” to “Imtiyaz.”

He said that while he was abroad in September of this year, the company's chief financier, Jasur Azizov, called him. Hamdamov noted that although Azizov was not a founder of the company, he had been managing financial processes.

According to the entrepreneur's claim, during the phone conversation, the financier expressed an intention to cover a loss of several million dollars, which had arisen as a result of the company's activities according to his calculations, through a bank loan.

However, Hamdamov said he opposed this proposal. He then reported that the company's name was changed without his consent.

Furthermore, the entrepreneur claimed that information aimed at portraying him as a fraudster is being spread to buyers who come to the company's office. In his second video message, he presented some audio and video recordings to confirm his words.

What awaits the buyers now?

Currently, a number of questions remain open regarding this conflict. In particular, how was the company's name changed without the consent of the person known as its founder? In whose hands was the company's financial management? Most importantly, what will be the fate of the funds and housing of the buyers who paid for the apartments?

So far, there is no information that a legal assessment has been given to all the circumstances related to the claims made by Marat Hamdamov. The results of the investigation will be of great importance in determining the true causes of the conflict surrounding the company and the responsible individuals.