Effect.uz published an article on September 28, 2026, titled “How was the share in a company with 200 billion soums worth of assets registered to a wanted person?”. It raised questions about how a 50 percent stake in a company with nearly 200 billion soums in assets, reportedly belonging to a foreign investor, was registered.
Now, entrepreneur Orziqul Payziqulov, whose name was mentioned in that material, is responding to these events. In a statement provided to the editorial office by his lawyer, a different perspective is expressed regarding the circumstances mentioned in the previous article.
The lawyer's main explanation is that O. Payziqulov fulfilled the terms of the agreement, the relevant part of the criminal case against him was dismissed, and new claims were subsequently filed against him.
The beginning of the dispute: 1.67 hectares of land and a $4 million deal
The statement provided by the lawyer states that J. Abdurahmonov, B. Bisultanov, and S. Jordayev introduced themselves as representatives of "Tajriba-Texnik Korxonasi" LLC and reported that there is a 1.67-hectare land plot located at 103 M. Uygur Street, Shaykhontohur District, Tashkent City, where a multi-story residential complex could be built.
According to the lawyer, this land plot was initially valued at 4 million US dollars. Stating that he could not pay the amount all at once, Payziqulov initially paid 350,000 US dollars. Following this, a 50 percent stake in the charter fund of "Tajriba-Texnik Korxonasi" LLC was registered in the name of Orziqul Payziqulov.
“ECOIMPEX LLP” and the company share
As stated in the lawyer's report, at that time, 100 percent of the shares of "Tajriba-Texnik Korxonasi" LLC belonged to the foreign company "ECOIMPEX LLP". The document notes that J. Abdurahmonov's wife, F. Abdurahmonova, was an authorized representative of this company and personally signed and processed the documents.
Afterwards, Payziqulov began the construction of multi-story residential buildings on this land plot. The report emphasizes that the settlement for the land, amounting to the agreed 4 million dollars, was made in the form of money and newly built apartments, thereby fulfilling the terms of the initial agreement.
Gulobod: What is in the area mentioned in the dispute today?
Photographs provided by Payziqulov's side depict multi-story residential buildings related to this project.
The lawyer's report states that construction of multi-story housing was indeed started on the 1.67-hectare land plot at 103 M. Uygur Street, and part of the payment was settled in the form of apartments.
These photographs show the existence of the construction object. However, they alone may not independently prove that the $4 million payment was fully settled or that property rights are legal.
Why was the part of the case against O. Payziqulov under Article 168 of the Criminal Code dismissed?
According to the results of the preliminary investigation, the part of the criminal case related to part 4, paragraph "a" of Article 168 of the Criminal Code of the Republic of Uzbekistan against O. Payziqulov was dismissed on March 6, 2026, on the basis of paragraph 2 of Article 83 of the Code of Criminal Procedure.
There are also separate criminal proceedings initiated against J. Abdurahmonov
The lawyer added that after J. Abdurahmonov was found guilty of committing the crime provided for in part 4, paragraph "a" of Article 168 of the Criminal Code, and the case was sent to court for consideration on the merits and a court verdict was issued, a separate criminal case was initiated against J. Abdurahmonov on March 6, 2026, under part 3, paragraphs "a, b, g" of Article 139 and part 2, paragraph "b" of Article 238 of the Criminal Code for slandering O. Payziqulov and others regarding the commission of a grave crime and giving knowingly false testimony.
New claim: Was Negru's power of attorney forged?
According to Payziqulov's lawyer, J. Abdurahmonov later appealed with a new argument regarding the same previous property. It claimed that the power of attorney of Negru Sergey Ivanovich was forged, and that the transfer of the 100 percent stake of "Tajriba-Texnik Korxonasi" LLC to Orziqul Payziqulov based on this power of attorney was illegal.
The lawyer rejects these claims. He states that Negru himself came to Uzbekistan, video recordings involving him exist, and there are also emails sent on behalf of the company in England. The lawyer emphasizes that Negru himself is ready to testify if called to the investigation and to confirm that he acted on the basis of the power of attorney.
What decision did the investigation make regarding this appeal?
According to the lawyer's report, a pre-investigation check was conducted by the Internal Affairs Department of Shaykhontohur District regarding this appeal by J. Abdurahmonov. Based on its results, a decision was made to refuse to initiate a criminal case on the basis of paragraph 2 of Article 83 of the Code of Criminal Procedure.
Response to the previous material about assets worth 200 billion soums
The Effect.uz report notes that on September 28, 2026, claims were circulated through social networks against Payziqulov accusing him of grave crimes, including large-scale fraud, and transferring a 50 percent stake in a company with nearly 200 billion soums in assets to his name based on a fake agreement.
What did Effect.uz write previously?
Effect.uz raised the issue of the 50 percent stake in the company with nearly 200 billion soums in assets in the material published on September 28, 2026. Now, the response of the side of entrepreneur Orziqul Holmirzayevich Payziqulov, whose name was mentioned in that material, is also being presented.
Thus, this new material was prepared not to unilaterally confirm or refute the claims in the previous article, but to convey to the public the position, documents, and procedural decisions presented by O. Payziqulov's lawyer.
