The Prosecutor's Office of the East Kazakhstan Region identified violations in the transfer of the state share in LLP «East Kazakhstan Regional Technopark «Altai», established at East Kazakhstan Technical University named after D. Serikbayev, and secured the return of assets to the state.
According to the press service of the agency, the technopark was established in 2008 to develop innovations. However, subsequently, as a result of a series of transactions involving the buyout and alienation of shares, the composition of the founders changed.
«An analysis of the legality of transferring state assets to a competitive environment revealed signs of the transfer of university property to a private entity through manipulation of shares in the authorised capital,» the statement says.
As established by the prosecutors, this resulted in:
- property damage to the university amounting to more than 1.5 billion tenge;
- illegal pledge of state property worth 1.4 billion tenge;
- illegal application of tax benefits by an unscrupulous co-founder.
Based on the prosecutor's supervisory act, the university filed a lawsuit to annul the pledge agreements, as well as the minutes of the meeting regarding the reduction of the authorised capital share.
As a result of the court proceedings, all encumbrances on state property were removed, the university was returned the illegally transferred 78.48% share in the technopark valued at 535 million tenge, and the technopark's debt to the unscrupulous co-founder amounting to 1.6 billion tenge was cancelled.
Based on the inspection materials, the Department of Economic Investigations of the East Kazakhstan Region launched a pre-trial investigation under Article 195 of the Criminal Code of the Republic of Kazakhstan («Causing property damage through deception or abuse of trust»). The investigation is ongoing.