(19 January 2026 | Source: Financial Monitoring Agency)
The AFM Department for Shymkent has completed an investigation into the embezzlement of budget funds at the M. Auezov South Kazakhstan University. Among the suspects are the former first vice-rector, directors of the financial and administrative departments, the head of the warehouse of the production and technical department, as well as the heads of contracting organisations.
WHAT THEY ARE ACCUSED OF
According to the investigation, the suspects entered into fictitious public procurement contracts, under which goods were either not actually delivered or were purchased at inflated prices. The money transferred to the accounts of affiliated individual entrepreneurs and commercial organisations was subsequently cashed out and distributed among the accomplices.
EXAMPLE
Under this scheme, the university management purchased a single armchair worth 20 million tenge, whereas its market price did not exceed 200,000 tenge.
HOW THE EMBEZZLEMENT WAS CONCEALED
In order to conceal the lack of actual deliveries, the suspects formally wrote off worn-out inventory from the balance sheet while continuing to use it. At the same time, the new goods that were supposed to replace the written-off items were not actually supplied.
WHAT DAMAGE WAS CAUSED
As a result, the state suffered damage amounting to 321 million tenge, of which the suspects voluntarily compensated 264 million tenge. By court order, their property has been seized: four residential houses, one car, and funds amounting to 40 million tenge in bank accounts. The criminal case has been sent to court.