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
- Kazakhstan Moves To Ban Imports Of Radioactive Waste
- The Government Says It Has A Plan To Raise Kazakhstanis’ Incomes
- Kazakh Bloggers May Be Fined For Unofficial Political Endorsements
- Kazakhstan’s Average Salary Rose, But Real Incomes Continued To Fall
- KNB Special Forces Bring Four Terrorism Suspects Back To Kazakhstan By Plane
- German Police Open Case Against Fugitive Ex-Prosecutor Duissenov
- Kazakhstani Meat Exports Remain Competitive Despite Uzbekistan’s Subsidies
- Kazakhstan’s Real Estate Market Showed Signs Of Recovery In April
- Fuel And Ore Theft Schemes Uncovered At Kazakhmys Facilities
- Goods Marked “Made In Kazakhstan” To Get Priority Placement On Marketplaces
- 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
