Timur Faiziev Released on House Arrest
Bishkek, May 30, 2024 – The founder of Elite House construction company, Timur Faiziev, has been released from the pre-trial detention center, according to a source in law enforcement agencies who informed 24.kg news agency.
The source revealed that the investigator in charge of the case had requested a change in the measure of restraint against Faiziev from detention to house arrest. Additionally, it was reported that the businessman had allegedly paid $3 million to the state. The press service of Bishkek City Court has promised to provide further information on the matter.
Timur Faiziev had been charged under the article “Money laundering” of the Criminal Code of the Kyrgyz Republic and was detained back in October 2023.
In a previous incident in May 2021, there was an attempt to hold Timur Faiziev accountable for his actions. However, he was out of the capital at the time and ended up on the wanted list. The entrepreneur was suspected of being involved in corruption related to the acquisition of land plots in Bishkek, as well as in illegal construction activities.
As more details continue to unfold regarding this case, the public will be eager to learn about the developments surrounding Timur Faiziev and the future of Elite House construction company. Stay tuned for updates on this ongoing story.
