Almaty Investigative Court Declines to Reopen Raiding Investigation Against Serik Konakbayev

A legal battle emerged involving Serik Konakbayev, a former deputy and renowned boxer whose achievements include a silver medal at the 1980 Summer Olympics and two World Boxing Cup victories. 

His stepson, businessman Ikram Abdukarimov, accuses him of corporate raiding.

Orda.kz has investigated these allegations.

The dispute traces back to late 2021 when Abdukarimov was managing the family's oil business, inherited from his grandfather.

According to Abdukarimov, Konakbayev initiated criminal proceedings against him for alleged theft.

While Abdukarimov says he successfully defended against these charges, he claims his reputation has been damaged and ultimately lost control of his business to Konakbayev.

Among other things, Konakbayev, by exerting pressure and threatening to deprive me of my freedom through criminal prosecution, forced me to reregister a 33% share in ZST-Qazaqstan LLP in his favor,said Ikram Abdukarimov. 

In December 2023, Abdukarimov attempted to turn the tables by filing criminal charges against Konakbayev for raiding.

However, the Financial Monitoring Agency, where I applied, closed the case in February 2024 on far-fetched pretexts. And the Almaty prosecutor approved this unlawful termination, noted Ikram Abdukarimov.

A significant development came in August 2024 when the Specialized Interdistrict Economic Court of Almaty Region invalidated the gift deed for 33% of ZST Qazaqstan LLP and agreements worth 88 million tenge.

The court determined that Abdukarimov had purchased the LLP share with his funds while managing the family business.

Abdukarimov claims Konakbayev coerced him into gifting these assets to his daughters.

This same decision confirms the raiding by the athlete, said Ikram Abdukarimov.

In its decision, which came into force on November 21, 2024, the Specialized Interdistrict Economic Court of Almaty Region established the facts of threats and pressure committed by Konakbayev, through which he forced Abdukarimov to re-register the property.   

Therefore, the court established the place, events, and actions related to the seizure of shares of the legal entity and funds of Abdukarimov by Konakbayev. Consequently, the said court decision has a prejudicial significance for the criminal prosecution body in accordance with Article 127, Part 2 of the Criminal Procedure Code of the Republic of Kazakhstan, Abdukarimov explained.

Abdukarimov claims that in violation of Article 24 of the Criminal Procedure Code, no investigative action was carried out during the two months of the investigation.

Neither I, nor Konakbayev, nor anyone else was questioned, nor were there any in-person questionings between us to resolve any contradictions. Apparently, the investigation did not take measures to investigate the case objectively and fully. It would seem that the very fact that basic investigative actions were not carried out in the case is enough for the court to overturn the decision to terminate the case. 

On January 8, 2025, the investigating judge dismissed Abdukarimov's complaint.

There is a clear example of lawlessness committed by representatives of the judiciary and law enforcement agencies, despite the directive to maintain law and order, which President Toqayev consistently talks about. Time will tell whether the agencies responsible for justice will be able to heal from the birth trauma of the old order,Ikram Abdukarimov believes.

The case continues as Abdukarimov's team has appealed to the criminal division of the Almaty City Court.

Orda.kz is following developments and has been unable to reach Serik Konakbayev for comment.

Original Author: Ilya Astakhov

Original Author: Ilya Astakhov