The Department of the Agency for Financial Monitoring (AFM) of the West Kazakhstan Region has completed an investigation into the head of a credit partnership. He is suspected of embezzling subsidies amounting to 150.7 million tenge.
According to the agency's press service, the head of the partnership illegally arranged concessional loans under the "Agribusiness" lending programme for a controlled farm totalling 126.7 million tenge. The funds were subsequently cashed out without the purchase of cattle.
He is also suspected of illegally obtaining a subsidy worth 24 million tenge under a national project by entering false information about non-existent livestock into the agricultural animal identification database.
"To confirm the legitimacy of receiving the subsidies, the suspect submitted fake documents regarding the purchase of pedigree cows from other farms," the AFM reported.
The agency noted that the suspect used the criminal proceeds to purchase land plots, on which he built a retail outlet and a sauna. To conceal this, he registered the property in the name of a relative.
With a court order, his property, including two land plots, a retail outlet, a sauna and an Exeed LX car, was seized. A custodial measure of restraint was applied to the suspect.
Recall that in September 2024, the AFM uncovered cases of fraud in obtaining loans for breeding pedigree cattle at the Aktobe branch of JSC "Agrarian Credit Corporation". Representatives of four farms, using fake documents, cashed out subsidies and credit funds allocated under the "Sybaga" state programme, and did not purchase the livestock. Consequently, the state suffered particularly large-scale damage totalling nearly 1 billion tenge.
In October, the Turkestan Regional Prosecutor's Office uncovered a scheme involving the embezzlement of 203 million tenge allocated as subsidies for livestock development. A resident of the Sauran district used the electronic digital signatures of 20 people. Over three years, he received state subsidies for the purchase of cattle which were never actually acquired.
In January of this year, in the Turkestan Region, an organised criminal group was uncovered that had embezzled budget funds totalling 1.9 billion tenge by arranging fictitious collateral. The suspects used a fraudulent scheme to obtain concessional loans under the "Sybaga" state programme, aimed at subsidising the purchase of cattle.