Group Selling Fictitious Invoices Convicted in Atyrau

A trial in a case involving the mass issuance of fictitious invoices and money laundering has concluded in Atyrau. At the center of the case was a group of entrepreneurs who turned a shadowy scheme into a full-fledged business, Orda.kz reports.

According to investigators, S.A. Argalash and A.S. Bulatov, under the leadership of A.S. Tyuyakpayev, organized the issuance of counterfeit invoices totaling about eight billion tenge. These “papers” allowed the money to be cashed and taxes avoided.

Of particular note was the fact that Tyuyakpayev managed to launder more than 342 million tenge of criminal proceeds. He transferred the money to his wife’s account through companies he controlled, disguising the transfers as legitimate transactions.

With court approval, property was seized: four cars, two apartments, and a residential building. During the investigation, 236 million tenge was voluntarily reimbursed, the agency reported.

The court found all three guilty. Depending on their level of involvement, they received sentences ranging from two years and four months to four years in prison. An apartment and a car purchased with the proceeds of the crime were transferred to state ownership.

Original Author: Daniel Arturov