The Financial Monitoring Agency (FMA) has shut down the activities of the financial pyramid scheme "Buyers Union", which was disguised as a consumer cooperative.
According to the agency's press office, investors were persuaded to invest in the purchase of property and vehicles, as well as to take part in Trade in and ReFinance programmes.
In addition, the co-operative offered employment as a manager, with the prospect of receiving dividends from raising funds.
Participants paid a monthly fee of 30,000 tenge, supposedly for life insurance, and an entry fee of 10% of the value of the property being acquired.
It is noted that the co-operative did not provide investors with any supporting documents for the receipt of money, and the amount of the deposit was only displayed in users' personal accounts.
It has emerged that the financial pyramid scheme attracted more than 250 investors, who invested over 300 million tenge.
The organiser has been placed in custody for a period of two months. The pre-trial investigation is ongoing.
Recall that earlier, the Shymkent department of the FMA shut down the activities of the "Nazira Gold" financial pyramid. Suspects posed as representatives of a jewellery company. During a search, they seized 374 million tenge in cash, as well as 12 kg of gold items worth over 300 million tenge.