Mahmood Karzai, also spelled Mahmud Karzai, or Mahmoud Karzai, is an Afghan businessman, CEO and Chairman of the Board for the Afghan Investment Company who is closely tied to the Kabul Bank scandal and other controversies. He is the brother of Ahmed Wali Karzai a figure who was killed by his bodyguard in Afghanistan following various allegations surrounding narcotics, nepotism, corruption and family infighting. He is also the elder brother of the former president of Afghanistan, Hamid Karzai.
In October 2010, the Washington Post reported that Karzai could soon be indicted for tax evasion in the U.S., by the Internal Revenue Service though he is aware of the investigation, telling the newspaper: "I'm giving any charges", and insisting his only interest is "rebuilding Afghanistan." To date, no charges have been brought against Karzai.
In 2011, investigative reporters reported that Karzai was under review by a U.S. grand jury for alleged racketeering, extortion and tax evasion. He reportedly hired a Washington, D.C.-based criminal defense attorney as a result of the grand jury investigation.
In 2013, Karzai, who has resided in Afghanistan since 2002, renounced his American citizenship to assume a bigger role in Afghan politics. The move was perceived as Mahmood expressing interest in running in the 2014 Presidential Election.
Mahmud Karzai is closely connected to the Kabul Bank scandal and former U.S. Congressman Donald L. Ritter, a conservative, Jewish-American, Republican from Pennsylvania, widely criticized and scrutinized for supporting big business interests allegedly involved with serious environmental degradation, toxic waste, pollution and global warming. Ritter and Mahumud Karzai, closely associated on various controversial efforts and ventures, have been criticized by many policy experts, including investigative reporter Sibel Edmonds, The Boiling Frogs Post newspaper, and other national security experts and whistle blowers, including the National Security Whistleblowers Coalition (NSWBC), for various alleged scandals and controversies. Mahmud Karzai is also the brother of the controversial and assassinated figure Ahmed Wali Karzai who was allegedly killed by one of his bodyguards.
Democratic and Republican members of the U.S. Congress, who have supported U.S. efforts to assist Afghanistan, including Dana Rohrabacher, have raised serious concerns and issues about Mahood Karzai's role in Afghanistan with Hamid Karzai and others.
Mahmood Karzai is a shareholder in Kabul Bank, owning 20,548 shares, which represents 7.41% of the bank.
The Washington Post and other investigative newspapers reported about the Kabul Bank scandal and Mahmood Karzai's role including the freezing of the Bank's assets in 2010.
During the September 2010 run on the bank Mahmood Karzai reportedly told the Boston Globe that "America should do something."
Karzai previously owned the only Toyota dealership in Afghanistan, Afghan Auto Limited.
Mahmood Karzai is a partner in Afco International company, the developer of Aynomena in Kandahar, Afghanistan.
Karzai allegedly owned, or leased, the only cement factory in Afghanistan, the Ghori Cement Factory, which investigative news reporters have found to have a host of troubling issues involving alleged corruption, cronyism, insider dealings involving the Kabul Bank scandal, unsafe working conditions and very low wages ($3 per day in 2010).
Independent news reporters have raised serious questions about the link between Mahood Karzai and his elder brother, President Hamid Karzai, especially as they relate to the cement factor scandal and alleged questionable ties between Karzai family, and public, finances.
Reports about Mahmood Karzai, his brother Ahmed Wali Karzai, and increased reports of problems with corruption in Afghanistan surrounding President Hamid Karzai's government persist.
Karzai owns numerous American companies under the name "Helmand", and finances realty companies from Massachusetts to Virginia.
An alleged bitter Karzai family business dispute between Mahmoud Karzai and his brother, Shah Wali Karzai, reportedly centered around a large property and housing complex project in Kandahar, Afghanistan.