An investigation into the alleged embezzlement of budget funds allocated under the «Agribusiness» project in the Abai region has been completed. According to the investigation, the head of the peasant farm «Ykybai» received preferential loans totalling more than 250 million tenge, after which the money was used for purposes other than intended.
WHAT IS KNOWN
The Department of the Agency for Financial Monitoring (AFM) for the Abai region, coordinated by the prosecutor's office, has concluded its investigation into the alleged embezzlement of funds allocated under the «Agribusiness» project. This project is designed to support farms by providing preferential loans for the development of livestock farming and agribusiness.
According to the investigation, the head of the «Ykybai» farm, using forged documents, received two large loans totalling over 250 million tenge.
WHAT THE MONEY WAS SPENT ON
The loan funds received, as noted by the AFM, were not used for the development of livestock farming. The investigation believes the money was spent on personal purposes.
It is also reported that the assets and livestock listed in the documents as collateral were never actually purchased.
WHAT DAMAGE HAS BEEN CLAIMED
Damage to the state has been estimated at 211 million tenge. During the investigation, the suspect fully compensated for the damage.
WHAT MEASURES WERE TAKEN AGAINST THE SUSPECT
A preventive measure in the form of a written undertaking not to leave the area and to behave properly has been imposed on the suspect. The criminal case has been referred to court.
Further details are not disclosed in accordance with Article 201 of the Criminal Procedure Code of the Republic of Kazakhstan.