The Almaly District Court of Almaty has heard a criminal case against those accused of creating and managing a financial pyramid.
According to the court's press office, the defendants, having conspired with foreign nationals, created an internet platform for future investors to supposedly track monetary transactions.
Clients were attracted through advertising on social networks, distributing brochures, conducting online training, presenting their project as an investment company, and promising that each investor would receive between 5 and 15% of the invested amount monthly.
"The financial pyramid operated on a standard system: earlier investors received dividends at the expense of later ones. During the fraud, 13 people suffered material damage totalling 59,894,237 tenge", the statement reads.
In turn, some of the victims stated they had no material claims against the defendants, and four asked the court to recover material damages.
Ultimately, the court found the defendants guilty of creating and managing a financial pyramid and sentenced them to imprisonment for a term of 5 years, satisfying the civil claims of the victims.
It is reported that the case against the foreign nationals has been separated into separate proceedings.