Eight Convicted in Tarazenergocenter Embezzlement Case
Photo: Dall-E, illustrative purposes
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
Latest news
- Tourists Face Penalty for Painting Rock Near Lake Shalkar
- Pavlodar Refinery Delays Maintenance to Avoid Fuel Shortages
- Kazakhstan’s First Kurultai Election: What the Turnout and Exit Polls Show
- “Ask Me Next Year”: Tokayev Declines to Reveal Reelection Plans
- Tokayev Says Kazakhstan’s Vice President Will Be Named Within 10 Days
- Kazakh Uranium Giant Plans Major Sales to China and Russia
- Atyrau Oil Company Fined Nearly 1.5 Billion Tenge for Environmental Violations
- Kazakhstan’s Credit Rating Upgraded for First Time in a Decade
- While Thousands Lost Power, KEGOC Executives Received Nearly Half a Billion Tenge
- Changi Airport Group May Help Build Astana’s New Airport
- US Again Extends Deadline for Lukoil to Sell Its Assets in Kazakhstan
- Kazakhstan Extradites Business Manager From Russia in 290 Million Tenge Tax Case
- Released Amur Tiger Successfully Hunts in Kazakhstan’s Wild
- Kazakhstan Moves to Develop Critical Minerals as Global Competition Intensifies
- Another Performance by Kazakh Stand-Up Comedian Called Off
- Uzbekistan Begins Preparations for Second Nuclear Power Plant
- Backpack Links Glacier Remains to Man Missing for 19 Years
- 650-Hectare Wildfire Contained in Karaganda Region
- Unusual Wildlife Encounter Captured in Altyn-Emel
- Retired Border Service Dog Sold for $2 at Kazakhstan Auction
