23 July 2026 , 15:54
536
0
A Kazakh court has sentenced 27 members of an organized crime group to between six and eight years in prison for stealing the equivalent of $6.4 million in public funds through a fraudulent agricultural loan scheme, state news agency Kazinform reported, citing the country’s Financial Monitoring Agency.
According to investigators, the defendants spent five years—between 2016 and 2021—setting up fictitious farms, filing fraudulent applications for livestock subsidies, securing 24 sham loans, and pledging 54 nonexistent assets as collateral.
The scheme was spearheaded by executives at KT Yassy Nesie LLC, who siphoned off government funds meant for an agribusiness initiative run by Agrarian Credit Corporation JSC, a state-backed lender that finances rural ventures and cattle purchases.
Under court orders, authorities seized extensive property belonging to the defendants, including nine homes, 10 plots of land, two apartments, four commercial properties, and four vehicles.
Technology & Business Editor