The AFM Department for the East Kazakhstan Region has begun a pre-trial investigation into two top managers of a construction company.
According to the department's press service, they are suspected of embezzling 1.8 billion tenge under the pretext of constructing a multi-apartment residential complex.
It is noted that the suspects entered into fraudulent shared construction agreements in Ust-Kamenogorsk. 102 citizens were affected by their actions.
"In fact, the project became a long-term construction. Despite repeated extensions of deadlines, the construction of the residential complex was never completed," the statement said.
Furthermore, the company did not have the necessary permits to raise funds from shareholders. The suspects have been placed in a pre-trial detention centre. To compensate for the damages suffered by the victims, their property worth 2.3 billion tenge has been seized.
Recall that in October last year, it was reported that in the West Kazakhstan Region, fraudulent developers used deceptive schemes to obtain money from citizens, with no intention of fulfilling their obligations. The damage from their actions amounted to 490.8 million tenge.
Later, it became known that in Astana, law enforcement officers are investigating criminal cases against 12 developers.
In November, several developers in the Aktobe region were held criminally liable. For example, the director of 'Andora Construction' LLP, without obtaining permission from the local executive body to raise funds from shareholders, sold apartments to 25 citizens for 313 million tenge using fictitious contracts. Court No.2 of Atyrau found the company director guilty and sentenced him to 5 years in prison.
In December, Prime Minister Olzhas Bektenov instructed for a mechanism to be developed that would eliminate risks for citizens when entering into shared construction agreements.