The Financial Monitoring Agency (FMA) has completed its investigation into a criminal case concerning the alleged illegal receipt of budget subsidies allocated to support the agro-industrial complex. The amount of illegally obtained payments exceeded 2.6 billion tenge.
WHAT THE INVESTIGATION ESTABLISHED
The investigation was conducted by the FMA department for the Almaty Region. According to the investigation, the scheme was organised by a former deputy of the maslikhat of the Karassay District, Almaty Region. The investigation believes he used his experience working in agriculture and his knowledge of state subsidy mechanisms to illegally obtain budget payments.
The scheme involved controlled enterprises and 29 peasant farms registered in the Almaty, Zhambyl, and Turkestan regions.
HOW THE SUBSIDIES WERE PROCURED
It is reported that fraudulent documents were submitted to the authorised bodies regarding the purchase of elite varieties of raspberry saplings for the establishment of industrial berry plantations.
To corroborate the information, forged purchase and sale agreements, acceptance and transfer certificates, electronic invoices, and documents attesting to the certification of planting material producers were drawn up. However, according to the investigation, the actual delivery of saplings in the stated quantities did not take place, and some of the farms did not have the objective capacity to grow raspberries on an industrial scale.
HOW THE MONEY WAS USED
The illegally obtained subsidies amounted to over 2.6 billion tenge.
The investigation claims that 491 million tenge was directed towards stock market operations. To this end, a brokerage account was opened in the name of the suspect's spouse, through which securities of Kazakh and foreign companies were purchased.
Furthermore, another 400 million tenge was transferred to an affiliated microfinance organisation, iSolutions Capital, under the guise of temporary financial assistance. These funds were subsequently withdrawn in cash in stages.
Additionally, according to the investigation, the suspect spent 170 million tenge on gambling at a casino in the city of Konayev.
WHAT PROCEDURAL DECISIONS HAVE BEEN MADE
By court order, the property of the suspects has been seized, including 4 apartments, 3 cars, a private house, and securities.
A preventive measure of detention on remand has been imposed on three suspects. The criminal case has been sent to court.
