In Almaty, a court has handed down a verdict in the case of the financial pyramid "Asar Baspana", which attracted funds from tens of thousands of citizens. The organiser Tuganbayev N.M. was sentenced to 8 years of imprisonment, and three other defendants — to 7 years each.
WHAT THE INVESTIGATION ESTABLISHED
According to the Financial Monitoring Agency (FMA), the participants of the scheme led by Tuganbayev N.M. attracted around 90,000 citizens for a total sum of 25 billion tenge, promising a monthly return of up to 30%.
Depositors were persuaded that "Asar Baspana" was engaged in the production of construction materials, had a sewing workshop and a factory of household and medical equipment. According to the investigation, the products were in fact purchased from third-party suppliers and labelled with the co-operative's logo.
From December 2024, when citizens' trust in the structure's activities began to decline, the organisers spread information about the launch of car dealerships and co-operation with dealers. According to the investigation's version, the cars were purchased with depositors' money and registered to relatives.
WHAT SENTENCE THE COURT HANDED DOWN
The court sentenced Tuganbayev N.M. to 8 years of imprisonment. In addition, he was banned from engaging in financial activity for a period of 7 years.
The court sentenced three other organisers to 7 years of imprisonment each. They were also banned from engaging in financial activity — for a period of 6 years.
13 regional managers received 5-year suspended sentences each. When handing down the punishment, the court took into account their family situation, age, the presence of minor children and their secondary role in the structure's activities.
The verdict has not entered into legal force.
WHERE THE PROPERTY WILL BE DIRECTED
Separately, the court determined the fate of the seized assets. Property with a total value of 5.6 billion tenge will be directed towards compensating the victims for damages.
The remaining part of the property is subject to conversion into state revenue.
CONTEXT
In February 2025, the FMA reported the disruption of "Asar Baspana"'s activities. At that time, during searches, more than 1.2 billion tenge in cash and 13 cars were discovered and seized.
In March 2025, details emerged of the financial pyramid's activities, which was disguised as a consumer co-operative.
By February 2026, the investigation into the case had been completed. The Almaty City Prosecutor's Office urged citizens to be vigilant and not to trust promises of quick and guaranteed income.
