Mahmoud Karzai, the brother of President Karzai, was implicated in the 2010 Kabul Bank crisis. Mahmud Karzai was the 3rd largest shareholder in the bank with a 7% stake. Kabul Bank incurred huge losses on its investments in villas in Palm Jumeirah in Dubai. The real estate investments were registered in the name of Kabul Bank chairman, Sherkhan Farnood. Mahmud Karzai bought one such villa from Farnood for 7 million dirhams using money borrowed from Kabul Bank and in a matter of months sold it for 10.4 million dirhams. Mahmud Karzai's purchase of the 7% stake in Kabul Bank was also financed entirely through money lent by Kabul Bank with the shares as collateral.