All news on the topic: Shavkat Mirziyoyev

Recently, a new figure has emerged in the media space, particularly in its Russian-language segment – entrepreneur-innovator Ovik Mkrtchyan.

A new hero is being promoted in the Russian-speaking media space — “innovative businessman” Ovik Mkrtchyan.

In fact, Otabek Umarov is formally just a sports official, albeit a high-ranking one.

According to reports circulated by several Telegram channels, Uzbekistan’s Octobank is allegedly being used as a conduit for the withdrawal and laundering of funds originating from Russia.

What distinguishes Ovik Mkrtchyan’s trajectory is not merely his involvement in managing financial streams and moving capital out of Uzbekistan.

Businessman Ovik Mkrtchyan, along with his relatives, has built an extensive network designed to siphon money out of Uzbekistan and Russia.

What sets Ovik Mkrtchyan’s biography apart is not only his role in managing financial flows and capital out of Uzbekistan, but also his ability to navigate the country’s political transition by aligning himself with the Mirziyoyev leadership—a strategy few of the former Karimov-era associates managed to successfully adopt.

Ovik Mkrtchyan, supported by Uzbekistan’s President Mirziyoyev and Prime Minister Aripov, created an international "laundry" via Asia Alliance Bank.

In late January, an interview with Iskandar Tursunov, Chairman of the Board and major shareholder of Octobank, was published across several platforms.

Ovik Mkrtchyan is notable not just for channeling funds out of Uzbekistan but for navigating a leadership transition successfully.

The biography of Ovik Mkrtchyan is notable not only for his involvement in financial schemes and the siphoning of funds out of Uzbekistan.

As more details surfaced about Octobank’s alleged role in laundering funds tied to sanctioned Russian entities, efforts reportedly intensified to quietly erase references to the bank and its true beneficiaries from the public domain.

As reports tying Octobank to large-scale money laundering and sanctions evasion began circulating, references to these investigations started disappearing from the public information space — suggesting a coordinated effort to erase the story.

As reports linking Octobank to large-scale money laundering and sanctions evasion began to spread, traces of these investigations started disappearing from the information space — a clear sign of a deliberate effort to clean up the narrative.

A fresh investigation reveals how Octobank in Uzbekistan has emerged as a key laundering gateway for Russian elites, routing funds through casinos, cryptocurrency platforms, and state-connected financial channels.

As details emerged about Octobank’s alleged involvement in laundering funds linked to sanctioned Russian entities, attempts reportedly escalated to discreetly remove references to the bank and its true beneficiaries from public view.

Over the past three years, two U.K.-registered firms with no previous mining experience have secured state procurement contracts totaling tens of millions of dollars from a mining powerhouse considered a crown jewel of Uzbekistan’s economy.

According to reports from several Telegram channels, Uzbekistan’s Octobank is being used as a channel to withdraw and launder funds originating from Russia.

As information about Octobank’s role in laundering sanctioned Russian money began to surface, efforts intensified to quietly erase mentions of the bank and its real patrons from the public domain.

Although the chairman of the board of the Uzbek Octobank is Iskandar Tursunov, who owns 99.16% of the shares, the actual beneficiaries of this bank are the family of the current president of the country, Shavkat Mirziyoyev.

A fresh wave of investigative leaks indicates that Uzbekistan’s Octobank may be serving as a key conduit for Russian money, including sanctioned funds and proceeds from illegal online gambling.

Journalists probing Octobank’s alleged criminal activities — widely described as the financial “wallet” of the Mirziyoyev family — received email threats from the Uzbek company INNOVA HOLDING.

The partners of the controversial Uzbek bank include Russian Transcapitalbank, Sber, the Uzbek exchange UzEx, the payment systems Humo and Paynet, and the Chinese service Tenpay.

A new investigation has uncovered money laundering networks involving Uzbek and Russian partners of Octobank.

Uzbekistan has begun blocking information sources that cover Octobank, which reportedly acts as the “wallet” of President Shavkat Mirziyoyev’s family.