Why Is the Son of Former Security Council Secretary Oksikbayev Accused of Fraud Worth Hundreds of Millions of Tenge?

Almaty police are investigating a large-scale fraud case involving the son of a prominent Kazakh politician — former Majilis deputy and former Secretary of the Security Council, Omarkhan Oksikbayev.

Several people accuse 42-year-old Almas Omarkhanov of fraud and embezzling large sums of money. Documents and video recordings obtained by the editorial office suggest he borrowed money from multiple people, failed to return it, and kept promising repayment. 

Orda.kz looked into the case.

Publicly available records show that Almas Omarkhanov has an impressive résumé. He has worked at the Ministry of Finance, headed the Kazakhstan Mortgage Guarantee Fund, served as a top manager at the national railway company Kazakhstan Temir Joly, and led the office of the Agency for Regulation and Development of the Financial Market. His current occupation is unknown.

Court documents indicate numerous victims of his actions. Large sums loaned to Omarkhanov were only sometimes recovered through court proceedings — and not always successfully.

Some of the alleged victims also have high-profile pasts. In May 2024, businessman Daniyar Alpiyev sued Omarkhanov for failing to repay 41.5 million tenge. The court ruled in Alpiyev’s favor and ordered repayment.

For Alpiyev, the amount was relatively small — he holds a stake in the Altyn Orda market in Almaty. In 2019, he was convicted of banking fraud and given a suspended sentence, and later publicly accused Bolat Nazarbayev of orchestrating a corporate raid on the market.

Another complainant is Aiyan Bespayev, whose father, Timur Bespayev, was embroiled in a major financial scandal in the 2000s. As reported by the newspaper Vremya, it involved the theft of millions of dollars from investors, including pension funds.

Through complex financial schemes, the Unified Accumulative Pension Fund (ENPF) lost 103 million tenge in Kazakh citizens’ savings. Criminal charges against Bespayev Sr. were later dropped due to the statute of limitations, and he was never punished.

There are other victims. For example, businessman Alexey Yegay says he transferred 86.2 million tenge to Omarkhanov. A five-room apartment in central Almaty was listed as collateral, but when the loan term ended, the money never came back.

Yegay was unable to recover the debt through the apartment because it is owned by Omarkhanov’s wife, Aigerim Nazarova — the daughter of former KazTransGas chair Bolat Nazarov, who once held senior positions in Kazakhstan’s oil and gas industry, including managing director of the national company KazMunayGas.

Whether he is aware of his son-in-law’s dealings is unclear.

Yegay’s attempts to reclaim the money in court failed, and he has since filed a criminal fraud complaint with the police. The Almaty Police Department has confirmed that a criminal case is open and that Almas Omarkhanov is a suspect.

The newsroom has two video recordings. In one, Omarkhanov promises to “resolve the money issue” and mentions some “Agashki” (Kazakh slang for “bosses” or “big shots”).

In the other, filmed in a notary’s office, participants — with their faces obscured — discuss debt obligations, while a voiceover alleges that Omarkhanov stole the debt repayment receipt. The authenticity of these materials could not be independently verified.

We will continue to follow this story. If Almas Omarkhanov or anyone else mentioned wishes to respond, we are ready to publish their account in full.

Original Author: Dinara Bekbolayeva