Nazarbayev’s Former In-Law: Court Denies Daniyar Khasenov’s Request to Write Off Billions in Debt

The Medeu District Court of Almaty has rejected a bankruptcy petition filed by businessman Daniyar Khasenov, the former husband of Aliya Nazarbayeva, the youngest daughter of Kazakhstan’s former President, Orda.kz reports.

Khasenov sought to eliminate debts exceeding 23.8 billion tenge, but his attempt to evade financial obligations failed. After reviewing arguments from both sides, the court ruled there was no basis to declare him financially insolvent.

The outlet Nege.kz was the first to spotlight the case, prompting Orda.kz to review the court documents.

An Empire on Paper

Court records show that Khasenov had acted as a guarantor for major loans in the 2000s taken out by companies under his control, including AsiaPromSbyt, Yrys-2004, TransCargo International, SpetsMashGroup LTD, and others.

These firms secured loans through Kazkommertsbank totaling over 33 million USD and 3 billion KTZ. Eventually, the companies were declared bankrupt, and their debts were transferred to the Problem Loans Fund.

Importantly, the bank loans were backed not only by company assets but also by Khasenov’s personal guarantee. In 2019, the court ordered him and his companies to repay nearly 24 billion tenge. Despite years of enforcement proceedings, official records show that no repayment has been made to date.

A “Poor” Millionaire?

In court, Khasenov portrayed himself as a bankrupt businessman with no property, income, or even pension contributions, claiming he was unable to repay the debts due to insolvency.

A financial manager assigned to the case confirmed that Khasenov had no official assets.

However, the State Revenue Department revealed that Khasenov holds stakes in several active companies, including Petroleum Invest Corporation (65%), Korporatsiya Imperial Invest (90%), Obyedinennye Tekhnologii i Finansy (50%), and Megasport Football Club (50%). According to tax authorities, these businesses remain formally operational and have made prior financial transactions.

The court also noted that Khasenov failed to fully disclose details about his expenses, marital status, and possible sources of income. For instance, a private judicial enforcer stated that Khasenov has minor children, but there was no evidence in the case files of any financial support provided to his family.

Denied

His petition was rejected, and enforcement efforts to recover nearly 24 billion tenge will continue.

Khasenov and Aliya Nazarbayeva married in the early 2000s and had two daughters. During their marriage, Khasenov worked in the financial sector and, in 2007, became the managing director for new projects at Kazakhstan Temir Joly.

Khasenov, well past the typical age for professional athletes, played as a striker for Astana’s Lokomotiv football club.

Previously, it was reported that more than one billion tenge had been recovered from the former management of another company linked to Aliya Nazarbayeva.

Original Author: Dinara Bekbolayeva