Since the start of the year, the Agency for Financial Monitoring (AFM) has completed investigations into 57 criminal cases involving the creation and management of financial pyramids, with damages of nearly 20 billion tenge.
According to the agency's press service, more than 12 billion tenge has been recovered to date.
At the same time, the AFM has concluded its pre-trial investigation into the creation and management of the financial pyramid "HitBeatMusic" in Almaty.
"The fraudsters disguised their criminal scheme as a foreign company, posing as holders of a large block of shares in a Canadian music investment project, by selling shares in a company with whose activities they in fact had no connection," the statement reads.
The perpetrators solicited funds from depositors, promising 10-15% returns on the invested amount. The damage amounted to 255 million tenge. The court found the named individuals guilty and sentenced them to between 5 and 6 years' imprisonment.
"Since the launch of the special project 'Countering Financial Pyramids', the organisers of structural divisions of financial pyramids operating in the country, such as 'Qnet', 'World Business Consulting', 'Finiko', 'Antares'/'Antares Trade', 'Sincere Systems Group'/'S-Group', 'Hermes LTD', 'Life is good', 'Chia Tai Tianding'/'Chia Tai Pharmaceutical', 'Energy Eolus Oazqstan'/'Eolus', have been brought to justice," the statement adds.
It is worth recalling that earlier it was reported that the AFM is conducting a pre-trial investigation against a group of individuals regarding the creation and management of the "Sax Invest" financial pyramid. From 2018 to 2022, its members attracted 3,000 depositors. The turnover of funds amounted to $18 million (nearly 9 billion tenge).
In early October, the organisers of the "Payyzsyz baspana" financial pyramid were sentenced in Shymkent. As a result of their actions, 134 citizens suffered damages exceeding 171 million tenge.
In September, one of the organisers of the "Life is good Hermes Management LTD" financial pyramid was sentenced in Karaganda. Seven of its depositors suffered material damages totalling 108.7 million tenge.
At the same time, the head of a branch of the "Chia Tai Pharmaceutical" financial pyramid was sentenced in Astana. The defendant solicited funds from depositors under the guise of investing in a pharmaceutical plant. As a result, 12 victims lost 29.2 million tenge.
Shortly before that, the organiser of the financial pyramid LLP "Kachestvo PLUS" was sentenced in the West Kazakhstan Region. The defendant solicited money from 73 depositors. The material damage to the victims exceeded 143 million tenge.