The court found citizen M. guilty of large-scale fraud in a case involving the illegal sale of a foreign investor's stake. The injured party, Swiss investor Cornelia Luke Jarczyk, had her claim for 3.5 billion tenge satisfied in full.
WHAT THE INVESTIGATION ESTABLISHED
According to the press service of the Prosecutor General’s Office, in September 2016, a Kazakh entrepreneur, using forged documents, illegally sold 80% of the stake in LLP "UK Rinkom" belonging to a foreign investor. The transaction amount was 63 million tenge.
The enterprise was involved in developing an iron ore deposit in the Ulytau region.
COURT DECISION AND CLASSIFICATION
By a court verdict dated 27 April 2026, citizen M. was found guilty under paragraph 2 of part 4 of Article 190 of the Criminal Code of the Republic of Kazakhstan ("Fraud on an especially large scale"). He was sentenced to 6 years and 8 months in prison with confiscation of property obtained through criminal means.
The civil claim of Cornelia Luke Jarczyk for 3.5 billion tenge was satisfied by the court in full.
ACTIONS OF THE SUPERVISORY AUTHORITY
The Prosecutor General’s Office ensured a comprehensive and objective investigation. As a result, the violated rights of the foreign investor have been restored.