Multi-million embezzlement scheme uncovered at Ust-Kamenogorsk Airport

Tengrinews.kz – The investigation into large-scale embezzlement, abuse of power, and money laundering involving the management of Ust-Kamenogorsk Airport has been completed in East Kazakhstan, according to the Financial Monitoring Agency.

According to the investigation, over five years, the former president and other executives of the joint-stock company systematically misappropriated the enterprise’s funds. The schemes included inflated salaries, fake bonuses, and fictitious contracts. The stolen money was cashed out through the company’s cash office.

It was also found that company-owned vehicles were removed from the balance sheet and sold to affiliated individuals at significantly reduced prices. Additionally, commercial property was leased out at below-market rates and with reduced declared rental space.

The total damage to the state is estimated at 157 million tenge.

By court order, assets worth 126 million tenge have been seized from the suspects, including four apartments, a land plot, and two cars.

The suspects have been taken into custody. Further information is withheld under Article 201 of Kazakhstan’s Criminal Procedure Code.