In Shymkent, an investigation is underway into the activities of the financial pyramid “Capital”, which operated under the guise of an investment platform. According to the investigation, more than 900 depositors were recruited into the project, and the total volume of investments exceeded 700 million tenge.
WHAT IS KNOWN ABOUT THE INVESTIGATION
The investigation is being conducted by the department of the Agency for Financial Monitoring (AFM) for the city of Shymkent. The investigation believes that the suspect used social media to attract citizens’ money under the promise of high returns.
Deposit amounts ranged from 20,000 to 500,000 tenge. Participants were promised a profit of 30–50% of the investment amount within 3–5 days.
HOW DEPOSITORS WERE ATTRACTED
The investigation claims that elements of psychological manipulation were used to recruit new participants. Specifically, citizens were promised “quick profits” and offered limited-time participation conditions.
According to the investigation, this prompted people to make decisions without a thorough assessment of financial risks. At the same time, guarantees of returns were given verbally and were not backed by business activities or contractual obligations.
WHAT THE INVESTIGATION HAS ESTABLISHED
As reported by the AFM, payments to participants were, according to preliminary data, made using funds from new depositors.
The agency clarified that over 900 people were involved in the financial pyramid, and the total amount of funds raised exceeded 700 million tenge.
WHAT THE AFM REPORTED
The investigation is ongoing. No further information is being disclosed in accordance with Article 201 of the Criminal Procedure Code of the Republic of Kazakhstan.
The AFM also urged citizens to exercise caution when investing in projects that promise high returns over a short period. The agency recommends checking the legality of companies’ activities and the availability of permits before investing.