Former Samruq-Qazyna Construction Manager on Wanted List Over Embezzlement
Photo: Dall-E, illustrative purposes
Investigators from the Financial Monitoring Agency's capital department have completed an investigation into the embezzlement of more than 2.6 billion tenge, Orda.kz reports.
The funds were allocated for the construction of the Kok-Tobe residential complex under a contract between Samruq-Qazyna Construction JSC and Dorstroytrest LLP. According to the investigation, the suspects used the advance payments not for construction, but to cover other debts and purchase vehicles.
An additional 650 million tenge was funneled through fictitious transactions and cashed out via affiliated companies. Investigators found that two cars worth 23 million tenge were registered to front persons to hide ownership.
The court has ordered the seizure of the suspects’ assets, including five cars and an apartment in the capital valued at 170 million tenge. One defendant, a former managing director at Samruq-Qazyna Construction, has been placed on the international wanted list.
Both suspects have been taken into custody.
Original Author: Ruslan Loginov
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