Asset Recovery: Luxury Cars and Villas Taken from Oligarchs

Two villas, an administrative building, a residential building, an apartment, a plot of land, and two luxury cars have been returned to the state balance, Orda.kz reports, citing the Prosecutor General's Office. The overall value is 177 billion tenge.

Several individuals previously owned the assets, but their names were not disclosed.

As a result of concluded agreements with registry entities, 147 billion tenge was received, 19 billion tenge under procedural agreements, more than six billion tenge from the sale of assets, about five billion tenge under court decisions, and more than 165 million tenge from the lease of real estate, The Prosecutor General's Office reported.

A plot of land in Almaty confiscated as part of the asset recovery was sold at four times the price after it was transferred to the state.

A plot of land in the city of Almaty was accepted from a subject of the Law "On The Return of Illegally Acquired Assets to The State" at a price of 176 million tenge, it was sold for 657 million tenge, the department clarified. 

Another 150 billion tenge is to be transferred to a designated state fund. The Prosecutor General's Office noted that all assets returned to the state will be used for social and economic projects.

The Asset Recovery Committee does not disclose information on what exactly, from whom, and in what amounts it confiscates.

In July, we reported that the data on the assets seized from Timur Kulibayev were classified. 

The Committee did not disclose details on Kairat Boranbayev's confiscated assets nor specify from which Kazakhstani oligarchs the 10 million-dollar Scythian gold was taken.

Original Author: Alexandra Mokhireva