The Financial Monitoring Agency (AFM) has launched a pre-trial investigation into the creation and management of a branch of the financial pyramid ‘World Business Consulting’ in the Aktobe region.
According to the agency’s press service, the suspects held presentations in Aktobe, presenting themselves as an officially registered international investment company.
“During the presentations, they told citizens about cash investments, obtaining favourable loans, buying apartments around the world, and purchasing new cars. Through deception, they persuaded citizens to invest money with the promise of receiving monthly dividends”, the statement said.
The damage caused by the suspects’ actions amounted to nearly 60 million tenge.
The court found two citizens guilty and sentenced them to 5 years’ suspended imprisonment each. The victims were compensated in full for the damage.
It is noted that since the beginning of the year, the AFM has completed investigations into 62 criminal cases regarding the creation and management of financial pyramids, whose organisers caused damage to Kazakhstani citizens amounting to nearly 20 billion tenge. To date, those convicted have repaid more than 13 billion tenge.
Earlier, the AFM completed a pre-trial investigation into the creation and management of the financial pyramid ‘HitBeatMusic’ in Almaty. The perpetrators attracted depositors' funds, promising 10-15% income on the amount deposited. The damage amounted to 255 million tenge.
Shortly before this, it became known that the AFM is conducting a pre-trial investigation against a group of individuals regarding the creation and management of the financial pyramid ‘Sax Invest’. From 2018 to 2022, its participants attracted 3,000 depositors. The turnover of funds amounted to $18 million (nearly 9 billion tenge).
In early October in Shymkent, the organisers of the financial pyramid ‘Payyzsyz baspana’ were convicted. As a result of their actions, 134 citizens suffered damage exceeding 171 million tenge.
In September in Karaganda, one of the organisers of the financial pyramid ‘Life is good Hermes Management LTD’ was convicted, with 7 of its depositors sustaining material damage totalling 108.7 million tenge.
At the same time in Astana, a sentence was handed down to the head of a branch of the financial pyramid ‘Chia Tai Pharmaceutical’. The defendant raised depositors' funds under the guise of investing in a pharmaceutical plant. As a result, 12 victims lost 29.2 million tenge.