In Kazakhstan, a financial pyramid scheme was uncovered, which ensnared 515 people. The damage amounted to more than 50 million tenge. The fraudsters operated under the guise of a social housing programme.
According to data from the Agency for Financial Monitoring (AFM), the organisers promised participants the acquisition of property in interest-free instalments, advertising the scheme as socially oriented and linked to the charitable foundation «UILI BOLAYIK қайырымдылық қоры». They also offered a monthly return on investments of 15–30% and a 10% bonus for recruiting new participants.
However, the funds were not deposited into the foundation's accounts, but directly into the organiser's personal bank accounts.
By court order, the suspect's accounts have been frozen. A preventive measure in the form of a written undertaking not to leave the country has been imposed on him. The investigation continues.