In Shymkent, a verdict has been handed down to nine defendants in a case involving charges of creating and leading the financial pyramid scheme "Nazira Gold". The investigation was conducted by the Shymkent department of the Agency for Financial Monitoring (AFM).
According to the agency's press office, the organisers presented "Nazira Gold" as a jewellery company. Investors were promised a monthly income of between 20% and 40% of the funds invested.
In reality, payments to participants were not made from the profits of jewellery sales, but from the funds of new investors.
The financial pyramid attracted more than 4,000 investors. The organisers used part of the proceeds to purchase expensive cars, land plots and real estate.
Ultimately, the court found the nine defendants guilty and sentenced them to terms of imprisonment ranging from five to ten years.
The court also ordered the confiscation of 402 million tenge, 52 vehicles, a private residential house, two apartments in prestigious housing complexes, and approximately 17 kilogrammes of jewellery from the convicted individuals.