In the inter-district criminal court of Astana, a sentence was handed down to the organiser of the ‘S-Group’ financial pyramid.
According to the press service of the department, from 2020 to 2022, the defendant used social media to encourage citizens to become investors in the financial pyramid. He then invited them to an office, where he registered them, promising high returns, and received money from them.
The total amount of damage caused over two years amounted to 83.1 million tenge.
‘The defendant's guilt has been proven by the testimony of victims and witnesses, video recordings of the propaganda, incoming cash orders, and other materials of the criminal case’, the statement said.
The court found the organiser of the financial pyramid guilty and sentenced him to 7 years in prison. In addition, the convicted person was banned from holding leadership positions in commercial and non-commercial organisations involved in attracting citizens' funds and investments for a period of 7 years.
At the same time, the court granted civil claims totalling 52.6 million tenge. It is noted that some withdrew their claims due to a settlement.
Recall that in September, in Karaganda, one of the organisers of the financial pyramid ‘Life is good Hermes Management LTD’ was convicted, resulting in seven of its investors suffering material damage totalling 108.7 million 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.
Later, it became known 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 participants attracted 3,000 investors. The turnover of funds amounted to $18 million (nearly 9 billion tenge).