Eight Convicted in Tarazenergocenter Embezzlement Case 

Eight individuals have been sentenced to prison terms ranging from three to 13 years in connection with the embezzlement of 4.3 billion tenge, Orda.kz reports, citing the Financial Monitoring Agency.

The defendants include Bakbergen Maulenov, former Chairman of the Board of JSC Tarazenergocenter, his son Rakhat Buldesh, who served as Commercial Director of EXPO ENERGY KZ LLP, and several others.

According to investigators, the group operated as an organized criminal network, illegally obtaining excessive monopoly profits. Authorities say they misappropriated budget funds and laundered them through a network of controlled cash-out firms.

All members of the group were found guilty. In addition, 100% of Tarazenergocenter’s shares were returned to state ownership.

Maulenov was initially held in custody for nearly a year but was later placed under house arrest due to reported health issues. He fled and is now on the wanted list.

The Taraz thermal power plant came under Maulenov’s control in 2018 following a public auction. At the time, the facility was operating at a loss and burdened with roughly one billion tenge in debt.

Original Author: Raushan Korzhumbekova