Mon 09 2016 10:32:01

Tashkent, Uzbekistan ( -- Interim President of Uzbekistan Shavkat Mirziyayev approved amendments to the Criminal Code, which introduce criminal responsibility for organization of financial pyramids.

On 23 September 2016, Shavkat Mirziyayev signed a law “On introduction of changes and amendments to some legislative acts of Uzbekistan”.

Legislative Chamber of Oliy Majlis of Uzbekistan passed the law on 22 August 2016 and Senate approved the document on 25 August 2016.

The law introduces criminal responsibility for illegal activities on attracting money resources and other property. The corresponding article was included to the Criminal Code of Uzbekistan.

The document introduced the article 188-1 to the Code, which says that attracting money resources and property of individuals and legal entities for return of income, organization of such schemes will be punished with the fine of 100 to 300 sizes of minimal salary or correction works till 2 years or limitation of freedom from 3 to 5 years or imprisonment from 3 to 5 years.

Same actions, conducted in large scale, repeated or conducted by dangerous recidivist, on preliminary arrangement by persons shall be punished with the fine of 300 to 500 sizes of minimal salary, or correctional labor for 2 to 3 years, or imprisonment from 5 to 7 years.

Same actions, committed on very large scale, dangerous recidivist, or by an organized group or in its interests will be punished by imprisonment from 7 to 10 years.


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