(27 February 2026 | Source: press service of the Agency for Financial Monitoring of the Republic of Kazakhstan)
In the North Kazakhstan Region, an investigation into a criminal case of illegally issuing interest-bearing loans without a licence has been completed. According to the Agency for Financial Monitoring (AFM), this concerns systematic activity that lasted more than ten years and involved court disputes and the seizure of property.
HOW THE LOAN SCHEME WORKED
According to the investigation, between 2013 and 2025, the suspect systematically issued cash loans to individuals and legal entities at interest, secured by property, without the relevant licence.
To give the transactions an appearance of legality, the contracts specified amounts significantly exceeding the funds actually transferred. Accrued remuneration was included in them in advance.
The monthly remuneration on the loans ranged from 5 to 10% of the loan amount, equivalent to 60–120% per annum.
FICTITIOUS TRANSACTIONS AND COURT PROCEEDINGS
The investigation indicates that fictitious contracts for the sale of property were drawn up to ensure the repayment of funds. In reality, they were used to disguise the loans.
Furthermore, according to the AFM, the suspect initiated court proceedings, as a result of which the same amount of 11 million tenge was recovered twice on the basis of different documents. It is claimed that the court was not provided with information about the actual fulfilment of obligations.
The case files state that the suspect used physical violence and exerted psychological pressure on borrowers to force them to hand over money or property.
INCOME AND SEIZURE OF PROPERTY
According to the investigation, the income from the illegal activity exceeded 1.8 billion tenge.
With court authorisation, property purchased with alleged criminal proceeds, with a total value of 1.1 billion tenge, has been seized. The seized assets include:
- 2 apartments;
- 2 residential houses;
- a land plot;
- a LAND ROVER RANGE ROVER and a HYUNDAI STARIA.
The suspect has been remanded in custody. The criminal case has been sent to court.