Organized Criminal Group Steals 1.9 Billion Tenge from Kazakhstan's State Budget
How the Scheme Worked
The criminal group established a fake company, "Credit Partnership Yassy-Credit NS," based in Kentau. Using this company, they accessed preferential loans under the "Sybagha" state program designed to subsidize cattle purchases.
To fabricate financial eligibility, they submitted falsified documents and fake property valuation reports allegedly issued by a non-existent company, "Expert Consulting Group."
The scheme's organizer, who also chaired the loan application review commission, orchestrated the operation by:
- Recruiting individuals to act as frontmen for documentation;
- Overseeing the creation of falsified reconciliation acts;
- Issuing instructions on financial transactions to maintain an appearance of legitimacy.
Damage and Consequences
The state budget suffered a loss of 1.9 billion tenge due to the group's actions. Law enforcement authorities have seized assets worth over 1 billion tenge from the suspects.
Case Figures
A total of 27 individuals are implicated in the criminal case. They face charges including fraud, forgery, and abuse of authority.
Response and Measures
This case highlights vulnerabilities in the "Sybagha" program's oversight mechanisms and raises concerns about the transparency of state subsidy programs. Authorities may need to tighten controls to prevent future fraud.
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