Nearly 2 Billion Tenge in Assets Returned to State from Altay Technopark Case

In East Kazakhstan, assets worth nearly 2 billion tenge connected to the Darkhan Serikbayev East Kazakhstan Technical University have been returned to the state, Orda.kz reports, citing the regional prosecutor's office.

The case involves the Altay Technopark, established at the university in 2008 to support innovation. Prosecutors say the university lost control over the technopark, allowing private entities to misuse state property.

The controlling stake was transferred to a private structure as a result of dubious transactions with the authorized capital. Thus, the university's share in the technology park was artificially reduced, state property was pledged in the amount of 1.4 billion tenge, and the private partner enjoyed tax benefits,
the prosecutor’s office stated. 

Through a court ruling, 78.48% of the university’s share in the technopark was restored, and a fictitious debt of 1.6 billion tenge was annulled. The technopark is now fully state-owned.

Meanwhile, a pre-trial investigation has been launched under Article 195 of the Criminal Code of the Republic of Kazakhstan – causing property damage,
 added the supervisory authority.

Orda.kz also identified the private owners involved. According to Kompra data, a majority stake in the technopark was held by LLP "DIM Stroy", registered in Oskemen.

The company’s founders are entrepreneurs Vyacheslav Musorov and Alen Baigazin. Baigazin is already known for his involvement in a controversial hydroelectric project on the Qoqsu River in the Jetisu region, which has drawn criticism from activists and archaeologists.

Original Author: Ruslan Loginov