Assets of Businessman Dulat Kozhamzharov Seized Following Halyk Bank Claim

Assets belonging to companies and relatives of businessman and former prosecutor general Kairat Kozhamzharov have been seized, Orda.kz reports.

The Medeu Court in Almaty ruled to freeze the assets of firms and relatives linked to businessman Dulat Kozhamzharov after Halyk Bank filed a claim seeking the arrest of property worth 2.63 billion tenge.

BesMedia first reported the decision.

2.55 billion tenge is to be seized within the limits of the stated claim, plus 76.5 million tenge in state duty — a total of 2.63 billion tenge — covering all movable and immovable property of the defendants: Oil Snab Group of Companies, HILL Resources, HILL Invest, AvtoTechMas Ltd, Dulat Perneshevich Kozhamzharov, and Gulnaz Sagatbekovna Kozhamzharov,The court ruling states.

Dulat Kozhamzharov ranks 57th on the Forbes Kazakhstan list with an estimated net worth of $110 million.

He is the founder of seven companies and oversees Hill Corporation, a major lubricants manufacturer based in Shymkent. His brother, Kairat Kozhamzharov, previously served as Akim of the Aqmola Region, Prosecutor General, and a member of the Senate.

He was added to the official list, though his representatives attempted to contest the decision.

In a separate case, KTZ Passenger Locomotives recovered nearly 96 million tenge in court after a breached contract with HILL, where Kozhamzharov is listed as founder. The ruling required the company to return 45.7 million tenge in advance payments, pay 50.4 million in penalties, and cover almost three million in state fees.

Original Author: Ruslan Loginov