Dorstroytrest Head Sentenced to Seven Years for Embezzling State Funds
Photo: Pixabay, illustrative purposes
A court has sentenced Yerden Nurabayev, head of Dorstroytrest LLP, to seven years in prison for embezzling and misappropriating budget funds intended for a residential construction project, Orda.kz reports.
According to the Financial Monitoring Agency, an investment agreement was signed between Samruq-Qazyna Construction JSC and Dorstroytrest LLP. The contractor received an advance payment of 2.6 billion tenge, but the work was performed in violation of the contract and not completed on time.
A significant portion of the proceeds was used to pay off debts unrelated to the construction project and to purchase vehicles,
the agency stated.
Investigators also found that 650 million tenge was funneled through fictitious contracts to affiliated companies and later cashed out. Some of the assets were registered under front names.
The court ordered the confiscation of property worth 131 million tenge.
Previous reports indicated that two cars worth 23 million tenge were concealed as assets. In total, five vehicles and an apartment valued at 170 million tenge were seized. The former managing director of Samruq-Qazyna Construction has been placed on an international wanted list.
Original Author: Ruslan Loginov
Latest news
- Ecology Ministry Explains 13 Million Tenge Fine For Picking Dandelions
- Kazakhstan Refineries Increase Oil Processing Depth To 90%
- High Rates No Longer Keep Kazakh Banks’ Profits Rising, Analysts Say
- Almaty Health Officials Prepare for Possible Hantavirus Cases
- Ministry Says Saiga Deaths Remain Within Natural Limits
- Kazakhstan Faces Shortage of Doctors and IT Specialists
- Kazakhstan Petition Calls for VAT Removal on Feminine Hygiene Products
- Kazakhstan to Publish Register of Convicted Economic Crime Offenders
- Kazakhstan’s Economy Grew 3.6% in Four Months
- Shymkent Colleges Used Fictitious Students to Steal Over 1.3 Billion Tenge
- Almaty Court Extends Chechen Activist’s Extradition Arrest
- Record Rainfall Hits Almaty
- Falling Caspian Sea Level Reshapes Northern Coastline
- Kazakhstan Says It Is Ready To Help Resolve Iran’s Nuclear Issue
- Pashinyan Explains Why He Will Skip The EAEU Summit In Astana
- Kazakhstan To Gradually Cut University Programs In Oversupplied Fields
- Kazakhstan Offers Indonesia A Route To Central Asia And Europe
- Kazakhstan Tightens Rules for Master Plans and Urban Development
- Kazakhstan Approves Rules for Digital Tenge Circulation
- Military Jets to Conduct Training Flights Over Astana
