The Department of the Financial Monitoring Agency (AFM) of Shymkent, coordinated by the Prosecutor's Office, has shut down the activities of the "Ayala Gold" financial pyramid.
According to the agency's press service, the illegal organisation was operating under the guise of a company selling jewellery.
The suspects offered citizens investments with supposedly guaranteed returns of 50–60% per month, as well as promising the safety of the funds invested.
In reality, payments were made using money from new participants. As a result, over 400 investors were drawn into the financial pyramid, who invested more than 1 billion tenge. The suspects used the criminal proceeds to purchase two apartments, which investigators have seized by court order.
Furthermore, the individuals involved in the case recruited their own relatives into the scheme, using them as 'droppers'. They cashed out the funds received from investors through their bank accounts. The organiser of the financial pyramid has been placed in custody for 2 months.
The editorial board of FBRK recommends not trusting dubious investment schemes and not taking part in financial pyramids. Remember: promises of ultra-high returns are always a sign of fraud. Be cautious and do not risk your savings for quick profits.