East Kazakhstan Public-Private Partnership Officials Accused of Financial Crimes
Photo: Pixabay, illustrative purposes
In the East Kazakhstan region, the management of the public-private partnership center is accused of illegal business, money laundering, and theft of budget funds, Orda.kz reports.
The Financial Monitoring Agency (FMA) investigated the case.
According to the FMA, in 2019, a project to modernize street lighting was launched in Oskemen and Semey.
The state center was responsible for this, and it was supposed to replace old lamps with energy-efficient lamps.
However, officials inflated the work cost and accepted low-quality equipment, resulting in budget damages of two and a half billion tenge.
To hide the criminal proceeds, the head of the center registered a controlled limited liability company through which he cashed out the funds. With the illicit funds, they bought elite real estate and cars for 265 million tenge, registering them in the names of fictitious persons, The Financial Monitoring Agency reports.
The suspects are in custody, and their property was confiscated. They will soon go to trial.
JSC "Regional Center for Public-Private Partnership of East Kazakhstan Region" is a state institution searching for social infrastructure investments via implementing PPP projects.
Original Author: Zarina Fayzulina
Latest news
- Defense Ministry Explains Drone Crash In Zhambyl Region
- Kazakhstan Refuses To Ease Access To Hazardous Work Payments
- Almaty Metro To Replace Korean-Controlled System After Technical Failures
- Fewer Kazakhstanis Work Outside Their Home Regions
- Safety Violations Cited As Possible Cause Of Kazzinc Plant Explosion
- Tenge Weakens Five Percent In May As National Bank Reports No Interventions
- New Direct Flights From Kazakhstan To Warsaw, Izmir, And Larnaca
- Kazakhstan Clarifies Position On Possible Iranian Uranium Storage
- EU Politicians Eye Kazakhstan And Uzbekistan As Possible Sites For Migrant Return Centers
- Kazakhstanis Are Leaving The Regions For Megacities
- Kazakhstan Could Store Iranian Uranium If US-Iran Nuclear Deal Is Reached
- Kazakhstan’s EV Boom Is Here. Is The Grid Ready?
- Cyprus President To Make First Official Visit To Kazakhstan
- Kazakh Investors May Gain Remote Access To Armenian Stock Market
- Call Center In Ukraine Scammed Kazakhstanis By Posing As Banks And Police
- Kazakhstan Marks Day Of Remembrance For Victims Of Political Repression And Famine
- Kazakhstan Considers Molecular Markers To Track Fuel Supply Chains
- Tengiz Oil Production Gradually Restored After Operational Failure
- Tokayev Meets Cuban Vice President To Discuss AI And Medicine
- Karaganda Zoo Shows Newborn Amur Tiger Cubs For The First Time
