10 Years of Waiting: Demands Made for Ex-President’s Brother to Pay 25 Billion KZT for Altyn Orda

One of the former co-owners of the largest market in the Almaty region sued Bolat Nazarbayev. Aidarbek Khusayyynov demands money for moral damage and lost material benefits. Orda looked into the situation around "Altyn Orda".

In the last part, we wrote about how back in 2012, a certain Serik Apsaparov came to the office of the market manager and forced Daniyar Alpiyev to leave his workplace. On February 18, 2013, Bolat Nazarbayev was gifted 60.8237% of Kurylys LTD LLP’s authorized capital. The rest of the ex-president's brother had to buy for $ 1.3 million - an undervalued price.

An investigation was launched into the raiding of the Altyn Orda market after the January Events. The suspect, Serik Apsaparov, pleaded guilty and received 3 years of a suspended sentence without confiscation of property. His time in custody was counted towards the sentence. Apsaparov will serve a suspended two-year sentence. 

How Bolat Nazarbayev Tried to Call off Altyn Orda’s Sale

At the end of April 2022, Daniyar Alpiyev reported that in the early 2000s, his father, Altynbek, was the owner of the market. In 2007 he was killed, and in 2013 someone "squeezed the market” for Bolat Nazarbayev. A few days later, Alpiyev was at the center of attention once more. On April 22, he announced that the bazaar had been returned to his family.

But he forgot to mention an important detail. Alpiyev owns only 5% of the authorized capital of Kurylys LTD. A large share is in the hands of the ex-fighter against pseudo-entrepreneurship and the former deputy of the capital’s akim, Yerkeblan Khamzin. He owns 95% of the authorized capital through "Company Number One" LLP. Both deals were concluded on April 19, 2022.

In November 2022, Bolat decided to call off the purchase and sale of 95% of Kurylys LTD’s authorized capital in court. He filed a lawsuit with the Almaty region’s Specialized Interdistrict Economic Court. The litigant was a long-time representative for Bolat Nazarbayev and the director of his companies, Kamilla Tugelbaeva. The second litigant was LLP "Company number one".

However, on November 22, 2022, the brother of the first president changed his mind. His representatives Gabdull D. and Buyankina I. sent an application to repeal the claim without consideration. On November 29, 2022, a meeting of the Specialized Interdistrict Economic Court was held. The claim was left without consideration.

The Division of The Altyn Orda Market

Two months after such a generous gift in the form of 60.8237% of Kurylys LTD’s authorized capital, Bolat Nazarbayev created a new company BN ALTYN ORDA LTD in May 2013. The company is currently called Altyn Orda QazTrade Ltd. The ex-president's brother managed the Altyn Orda market through it.

In connection with the sale of Kurylys LTD LLP, the issue of property that was on the balance sheet of Altyn Orda QazTrade Ltd needed a solution. A large LED screen of 18.3 meters by 6 meters was still in use at the market. The companies peacefully signed a mediation agreement.

On January 30, 2023, the Specialized Interdistrict Economic Court of the Almaty region approved the settlement agreement. Kurylys LTD had pledged to return the LED screen. The dismantling was to take place at a convenient time.

Attempt to Lift Arrest of 75 Million KZT

On February 9, 2023, the judge of the Karasay District Court, Ralat Bolatkan, handed down three suspended years to the raider Serik Apsaparov. Meanwhile, on February 21, a petition was received from Bolat Nazarbayev’s representative, Gajdanbek Bisembayev, for the return of his money. 

On April 25, 2022, the office of BN InvestCapital LLP (recently sold and renamed as DBS-Trade Company – editor's note), located in Almaty on 104 Baitursynuly Street, was searched and money was seized. It was not recognized as material evidence.

The Investigative Court of the Ili District Court authorized the arrest of 75,979,745 KZT and $10,000 to ensure the execution of the sentence in terms of a civil lawsuit, other property penalties or possible confiscation of property.

The ex-president's brother wanted his money back. And this was the second mention of his name during the criminal trial. For the first time, he was named as the recipient of market assets as a gift and the buyer of the remaining participation shares.

It is still unknown whether Bolat Nazarbayev was involved in the Altyn Orda raiding case at all, and if so, then as whom.

But back to the money. Spoiler: the court shot Nazarbayev’s request down. 

Here’s why:

• The affected parties in this criminal case expressed their intention to file a civil lawsuit.
• The applicant attached to the petition a power of attorney from B. Dzhaksybayev (for some reason not from Gajdanbek Bisembayev - ed.), acting on behalf of Nazarbayev, on granting his interests dated May 23, 2022. However, the money was seized at the company's office. Therefore, the representative had to have power of attorney from the company, too.

5 Billion KZT in Moral Damage and 20 Billion KZT for Lost Profits

In March 2023, the Specialized Interdistrict Economic Court received a lawsuit from the affected party, Aidarbek Khusayynov. Until July 2013, he owned 39.1763% of the authorized capital of Kurylys LTD. The litigants were Bolat Nazarbayev, Daniyar Alpiyev, Kurylys LTD LLP, Number One Company LLP. The third parties were notary I. Gerlitz and the "Government for Citizens in the Almaty region".

Husayinov wanted:

• To recover moral damage from Bolat Nazarbayev in the amount of 5 billion KZT, losses on lost profits in the amount of 25 billion KZT.
• From Daniyar Alpiyev and LLP "Company number One" to recover jointly the lost profit in the amount of 5 billion KZT.
• To invalidate the purchase and sale agreement dated July 1, 2013 of 39.1763% of the stake in Kurylys LTD LLP between Bolat Nazarbayev and Madeale Tolepbekov.
• To recognize the transaction under the contract of sale of 95% of the stake in Kurylys LTD LLP between Nazarbayev and Number One Company LLP.
• To recognize the transaction under the contract of sale of a 5% stake in Kurylys LTD LLP between Nazarbayev and Daniyar Alpiyev dated April 19, 2022.
• Recognize ownership of 39.1763% of the stake in Kurylys LTD LLP
• To invalidate the purchase and sale agreement between Kurylys LTD LLP and Number One Company LLP for real estate.

Perhaps there is a typo in the court document. Why would Aidarbek Khusayynov recognize the purchase and sale transactions between Nazarbayev, Alpiyev and "Company Number One" LLP? No one has challenged these contracts in court.

In order to regain 39.1763% of the share of the authorized capital, Khusayynov also needs to cancel all transactions made earlier.

On March 7, 2023, the Specialized Interdistrict Economic Court of the Almaty region rejected Khusayynov’s claim. The claim was returned to him because he did not pay the state duty. However, the former owner of the Altyn Orda market did not stop there. He filed a complaint with the Almaty City Court.

"By virtue of paragraph 6 of Article 616 of the Tax Code of the Republic of Kazakhstan, plaintiffs on claims for compensation for material damage caused by a criminal offense are exempt from paying state duty in courts," the Court of Appeal reported.

On April 26, 2023, the Specialized Interdistrict Economic Court’s decision was overturned, and the case was returned to the court of first instance in the same composition.

Original Author: Maria Gorbokonenko

DISCLAIMER: This is a translated piece. The text has been modified, the content is the same. Please refer to the original article in Russian for accuracy.