Former Leader of Uzbek Metallurgical Plant Faces International Arrest Over Embezzlement Charges

Dilshod Tursunqulovich Ahmedov, the former chairman of the board of O‘zmetkombinat, a major Uzbek metallurgical joint-stock company, has been placed on an international wanted list amid allegations of large-scale embezzlement of state property.

Financial and Legal Implications for Uzbek Industrial Sector

Authorities have revealed that Ahmedov is being prosecuted under Article 167, Part 3 of the Criminal Code of Uzbekistan, which pertains to misappropriation or embezzlement by abuse of power. The comprehensive investigation by the country’s law enforcement agencies is currently examining the financial and operational activities of O‘zmetkombinat during his tenure.

"The investigation is focused on uncovering the full extent of financial misconduct under Ahmedov’s leadership," a source familiar with the probe stated.

Ahmedov’s appointment as chairman of O‘zmetkombinat in October 2024 marked a return to a top executive role after serving as the first deputy chairman since January 2021 and also holding the position of deputy minister of investments, industry, and trade earlier in 2024. The company is now under the management of entrepreneur Bahodir Abdullayev, who took the helm in August 2025.

The case highlights ongoing challenges in governance and financial oversight in Uzbekistan’s industrial and economic sectors, which have significant implications for the country's investment climate and corporate governance standards. This development also raises concerns about the cybersecurity and transparency controls over digital financial transactions and asset management within state-owned enterprises.

Experts in fintech and digital economy sectors note that such high-profile cases stress the need for improved digital auditing tools and blockchain-based transparency mechanisms in managing state assets to prevent fraudulent activities.

As Uzbekistan continues to digitize its economy and foster fintech innovations, maintaining robust cybersecurity frameworks and transparent corporate governance will be essential to safeguarding both domestic and foreign investments.

Based on reporting by Deutsche Welle.