- TCA English Language Newspaper in Central Asia PUTTING INVESTOR IN PRISON IS A BAD SYNDROME Date:10-09-2005 01:41 Country: Kyrgyzstan Source:TCA<> Author:
BISHKEK, September 10 ( TCA ). The following appeal was published in a local press and signed by those employees and tenants which daily life depend from the activity of Joint Stock Company ZUM. The largest commercial center of Bishkek that every day receive more then 15000 people and is providing commercial space to more then 700 tenants is presently under much attention due to the fact that his Italian General Director and major shareholders Mr. G. Fiacconi have been temporary arrested ( he was released on bail two days ago ). The arrest have created a lot of apprehension between local and foreign investors and have been seen as a clear intimidation with the intent of taking advantage of Mr. Fiacconi profitable business. Mr. Fiacconi and his lawyers have clearly declared that the accusation are groundless and without any legal base, he does not object to his company being investigated but expect all such action to be done in a civil way , without harassment and intimidation to himself and his staff. So far the accusation are very vague and have not been brought to the attention of any court. The investigator have denied Fiacconi the possibility to contact his Embassy or even to obtain an interpreter or being assisted by his lawyer or even obtained medicine. The decision of arresting him was taken upon his return from Italy where he went for urgent medical reason. Fiacconi is living and working in Kyrgyzstan from the last ten years and he has invested very large amount of money in profitable Companies. Lawyers of Fiacconi have reputedly demanded that the case be transferred to the court for proper hearing but investigators continue to postpone such decision pressing and intimidating the foreign investor. The entire foreign community of Kyrgyzstan , is clearly supporting Mr. Fiacconi that is seen as a serious a dedicated investor. Bail for Mr. Fiacconi was signed by the President and the executive Director of the International Business Council as well by few deputies of the Kyrgyz Parliament.
Address of shareholders, officers and lessees of the Aichurek ZUM OJSC to President of the Kyrgyz Republic, Mr. K. S. Bakiev Prime Minister of the Kyrgyz Republic, Mr. F. Sh. Kulov Speaker of the Jogorku Kenesh of the Kyrgyz Republic, Mr. O. Ch. Tekebaev General Prosecutor of the Kyrgyz Republic, Mr. A. A. Beknazarov
Our collective, consisting of many thousands of people of different nationalities is greatly concerned with the information in mass media about criminal proceedings instituted by officers of the Finance Police Department of
Bishkek against a well known entrepreneur, General Director of the Aichurek ZUM OJSC, Giorgio Fiacconi. We were greatly indignant with the absurd information about Mr. Fiacconi#s presumed intention to escape in order to avoid responsibility, which entailed his detainment and arrest. If this person felt guilty and was afraid of cooperating with the law enforcement bodies, he would have long before found an opportunity to leave Kyrgyzstan. It would have not been problematic for the foreign businessman and the Honorary Vice-Consul of Italy in Kyrgyzstan.
Mr. Fiacconi is a person, who highly values his good name and the image of the Company he heads. He is going to prove his innocence to the law enforcement bodies and the Kyrgyz court, if it comes to court. That is why putting to prison the entrepreneur who has given more than ten years of his life to our country and done much for its economic development and strengthening of trade and cultural cooperation between Kyrgyzstan and Italy, is a terrible mistake.
At the present time the Aichurek Central Stores is a pride and beauty of the When capital. Giorgio Fiacconi came here with his investments and ideas, ZUM was a big provincial shop with the obsolete mode of services, which remained from the Soviet times, semi-empty counters and a collective whose members were plunged into a confrontation to each other. No matter how difficult it could be for Fiacconi, he did not leave our beggary country like many of his colleagues-businessmen at that difficult time # the time when market relations were forming in Kyrgyzstan. He started creating big business and our ZUM is worthy of pride thank to his efforts. This is a modern profitable enterprise, which meets international standards and provides work to about three thousand taxpayers of Kyrgyzstan.
The newest technologies in the trade, high quality services, and rich assortment of goods are what the Central Department Stores (CDS) is distinguished with nowadays. In spite of a large number of new trade outlets, kiosks, supermarkets and markets, which appeared in Bishkek, the CDS today has the highest capacities and lots of customers. Of course, this was not done with a magic wand. Much labour, nerves and finances were spent that allowed the work team to survive during the period of the reforms and reap the results of its labour. We do not know if we could have achieved these successes if it were not for such an active, strong manager as Mr. Fiacconi. People who worked under his leadership know it very well, because they were eyewitnesses of the failure and bankruptcy as well as squandering the property of many joint stock companies. We, shareholders, very well know how Aichurek ZUM JSC works, what incomes it gets and for what purposes it spends money. We know what profits will be distributed among us at the end of the year and we jointly decide how the profits will be spent. Fiacconi made the ZUM#s activities transparent and information accessible. By the way, from year to year the ZUM#s profits were increasing and the value of shares growing.
Our Chief Manager did not leave his post during the revolution in March 2005. He organised Aichurek ZUM self-defence from looters and together with lessees and
the store employees remained on duty during all disturbed nights to guard the building. This man did not give us up or hid in a foreign embassy even ...