• KGS/USD = 0.01178 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.09372 0.32%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01178 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.09372 0.32%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01178 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.09372 0.32%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01178 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.09372 0.32%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01178 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.09372 0.32%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01178 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.09372 0.32%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01178 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.09372 0.32%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
  • KGS/USD = 0.01178 0%
  • KZT/USD = 0.00208 0%
  • TJS/USD = 0.09372 0.32%
  • UZS/USD = 0.00008 0%
  • TMT/USD = 0.28571 0.28%
01 September 2024

Viewing results 1 - 6 of 10

Nazarbayev’s Nephew Returns $1.6 Billion to Kazakhstan Following Embezzlement Conviction

Kazakhstan's Anti-Corruption Service has completed an investigation into the case of Kairat Satybaldyuly, the nephew of former president Nursultan Nazarbayev. Following the investigation, around 733 billion KZT ($1.6 billion) worth of assets have been returned to the state. In September 2022, Satybaldyuly was sentenced to six years in prison for embezzling funds, and causing damage to companies such as Kazakhtelecom and CTC. In 2023, the investigation was expanded to look into into other crimes that he committed. The full investigation revealed numerous cases of legalization of illegal income and evasion of customs duties. Satybaldyuly pleaded guilty and cooperated with the investigation, allowing the return of assets in Kazakhstan and abroad. Most assets were found in Austria, Liechtenstein, the UAE, and Turkey. The recovered assets included 28.8% of shares of the national telecom operator Kazakhtelecom, assets of CTC JSC, and stakes in four companies. The state has also recovered 115 real estate objects in Kazakhstan, including buildings, apartments, and land plots. The returned assets include luxury real estate and jewellery confiscated in various countries.

Nursultan Nazarbayev Stripped of Academy of Sciences Membership

News that the first president of Kazakhstan, Nursultan Nazarbayev, has been stripped of his status as a member of the Academy of Sciences of Kazakhstan, was announced by Minister of Science and Higher Education, Sayasat Nurbek. Nurbek explained that in 2023, Kazakhstan's current president, Kassym-Jomart Tokayev, decided to create a new Academy of Sciences with just nine members and in the process,  'reset' the status of former academy members. Nursultan Nazarbayev was awarded the status of academician of the Academy of Sciences of Kazakhstan in 1995 and in 2011, whilst participating in a scientific forum at the academy, received the honourable title of “Scientist of the Century.” The loss of his membership of the academy is the most recent example of Nazarbayev's fall from grace. In July last year, he was deprived of his position as head of the supreme board of trustees of autonomous educational organizations. Then, this spring, a waxwork of the first president, installed six years ago in the State Military History Museum of the Armed Forces of Kazakhstan in Astana, disappeared. Previously, the monument to Nursultan Nazarbayev, inaugurated on his 80th birthday in 2020, was dismantled from the territory of the National Defense University in Astana, in tandem with the removal of another memorial to the man from the National Museum.

Kazakh MP Accuses Nazarbayev’s Relatives of Raiding

MP Yerlan Sairov believes that relatives of former president Nursultan Nazarbayev, Rakhat Aliyev and Kairat Satybaldy are involved in a business seizure. The parliamentarian demanded that the General Prosecutor's Office return the property to the affected businessmen, Kursiv has reported. During a meeting of the Majilis, the deputy stated that representatives of the Old Kazakhstan, taking advantage of their impunity, had initiated a series of business takeovers. "Such a system was formed by Rakhat Aliyev (Nazarbayev's former son-in-law) and his supporters," Sairov stated. Now, the victims have begun demanding the return of seized property. According to him, Nurlan Bimurzin and Megdat Kaliyev lost their oil business worth 170 million tenge ($369,000) in 2003. Zharkyn Kurentayev and Sholpan Karaneeva also "fell victim to the greed of the above-mentioned persons. The same group selected several vacation spots in the town of Konaev and the Altyn Bulak sanatorium in the Turkestan region," Sairov specified. Referring to the victims' posts on social networks, Sairov said that a group linked to Nazarbayev's nephew, Kairat Satybaldy, and his former sister-in-law, Gulmira, allegedly annexed the Hilton Hotel in Almaty and German citizen Robert Schumacher's construction company. The latter is now considered bankrupt. "The Prosecutor General's Office needs to take steps to protect the economic interests of the victims from representatives of the Old Kazakhstan and return the property," added Sairov. Rakhat Aliyev, the husband of Dariga Nazarbayeva from 1983 to 2007, was one of the most influential people in Kazakhstan in the early 2000s. In 2007, he was charged with kidnapping and preparation for a coup d'état and sentenced in absentia to 40 years; Aliyev fled to Austria, where he was arrested in 2014, and found hanged in a cell in Vienna in 2015. The official cause of death was suicide. In late February 2024, businessmen Bimurzin and Kaliyev announced that they had applied with the Prosecutor General's Office to reclaim assets they claimed to have transferred under duress to the former president's daughter, Aliya Nazarbayeva, in 2003. Nazarbayeva sued them for libel and lost Furthermore, earlier this year, businesswoman Sholpan Karaneeva reported that the Hilton Hotel was taken by Kairat Satybaldy and his supporters in 2021. After the nephew of the former president was behind bars, the transfer of his assets to the state, among them the hotel, was initiated. Kairat Satybaldy and his former wife, Gulmira Satybaldy, have been sentenced under articles on laundering money and the embezzlement of others property.

How Kazakhstan Is Cleansing Itself of Nursultan Nazarbayev’s Legacy

“New Kazakhstan,” the term introduced by Kasym-Jomart Tokayev after the attempted coup d'état in January 2022, has also given birth to a thesis about “Old Kazakhstan." "Old Kazakhstan" is associated with the country's first president, Nursultan Nazarbayev, and his numerous relatives, who penetrated all spheres of life in the country. So,  which former head of state's relatives fell into the clutches of justice? Gulmira Satybaldy Gulmira Satybaldy, former wife of Kairat Satybaldyuly, nephew of the first president of Kazakhstan, Nursultan Nazarbayev, is currently on trial in Almaty. She is accused of locking up her relative and business partner, Abai Zhunusov, for 165 days and, after intimidating him, transferring his shares in various companies to her proxies. Damages are estimated at $2.2 million (1.4 billion KZT). The guilty verdict, which few doubt will be passed, will not be her first. On 4 May 2023, the Astana court sentenced Gulmira Satybaldy to seven years' imprisonment for self-rule and kidnapping. A month later, on 30 June 2023, the Kyzylorda court sentenced her to eight years in prison for embezzlement and misappropriation of other people's property. The new, harsher sentence absorbed the previous punishment. Kairat Satybaldyuly Next is Kairat Satybaldyuly, a rather grim figure from the Nazarbayev clan. In the early noughties, on the now defunct Internet site “Aziopa,” which was attributed to Nazarbayev's former eldest son-in-law Rakhat Aliyev,  Kairat Satybaldyuly was painted black with hints of his handcuffing his wife to the radiator and beating her. It also pointed to Kairat's presidential ambitions. Satybaldyuly is the son of Nursultan Nazarbayev's younger brother, Satybaldy, who died in 1981 in a car accident. According to Forbes Kazakhstan, during his uncle's presidency, Kairat was listed as one of the country's most influential business people with a fortune of 163 million dollars. According to Kazakhstan's media, the nephew of the former president of Kazakhstan was listed as the sole founder of the offshore firm Skyline Investment Company S.A., which owns over 24% of the shares of Kazakhstan's telecommunications company Kazakhtelecom. In addition to working  in the civil service, including in the National Security Committee, he was deputy akim of Astana, and held senior positions in national companies. Detained in March 2022 on suspicion of abuse of power and large-scale embezzlement of funds by Kazakhtelecom JSC and Transport Service Center JSC, Satybaldyuly was held in custody until the trial. In court, Satybaldyuly reached a mediation agreement with the injured parties and paid 40 billion tenge ($89.5 million) in damages. He also entered into a procedural plea agreement. In September 2022, he was sentenced to six years in prison. The court ordered the confiscation of his property and banned him from working in the civil service for ten years. A submission was also made to the President of Kazakhstan to strip Satybaldyuly of the title “Major General of the National Security Bodies of Kazakhstan,” as well as the state orders “Kurmet” and “Parasat.” Despite reports that the Anti-Corruption Service of Kazakhstan is investigating criminal cases against Satybaldyuly involving tax...

Nazarbayev In-Law, Askar Kulibayev’s Oil Terminal Seized

Representatives of the General Prosecutor's Office of Kazakhstan have reported that an oil terminal in the port of Aktau belonging to Askar Kulibayev has been returned to the state. The 134-hectare property is valued at $66 million. “It was established that in 2011, the oil terminal was alienated into the ownership of Kulibayev's company. On February 26th, 2024, by the decision of the Specialized Inter-district Economic Court of Mangistau region, the claim of the Almaty city prosecutor was satisfied, and the oil terminal was returned to the state's ownership," said the supervisory body. The Almaty prosecutor's office stated that the claim was filed to compensate for the damage caused by the unlawful seizure of a foreign investor's property. However, the official message does not name the affected company. Now 87-years-old, Askar Kulibayev served as First Secretary of the Guryev (now Atyrau) Regional Committee of the Communist Party of Kazakhstan and as the Minister of Construction in independent Kazakhstan. He is the matchmaker of former President Nursultan Nazarbayev's daughter, and the father of Kazakhstan's richest man, Timur Kulibayev. In 2024, Timur Kulibayev and his wife Dinara Kulibayeva, still sit atop the list of the richest Kazakhs. The combined fortune of the Nazarbayev family is estimated at almost $10 billion.

Son-in-Law of Former Kazakh President Nazarbayev Sells His London Mansion

Kazakh billionaire, Timur Kulibayev has sold his mansion in the prestigious London neighborhood of Mayfair for £35 million pounds sterling. The son-in-law of Kazakhstan's former president, Nursultan Nazarbayev is also looking for a buyer for a second house nearby, according to a report in City A.M. The British publication claims that Kulibayev has struck a deal to sell the property to North Wind Capital, an investment company founded by former Deutsche Bank director, Ben Williams. The new owners are planning a large-scale reconstruction of the building. According to City A.M., Kulibayev's mansion on Upper Grosvenor Street was sold at an undervalued price due to the value of luxury real estate taking a significant drop since Brexit. Many London homeowners have already taken substantial losses on investment and residential properties. "Kulibayev has owned two mansions next door to each other for almost 20 years. They are directly opposite the Embassy of Monaco, and just a short walk from Buckingham Palace. Almost all this time, the house which he sold was empty," notes the City A.M. article. In 2024, Timur Kulibayev and his wife Dinara Kulibayeva, daughter of Nursultan Nazarbayev, still sit atop the list of the richest Kazakhs. The combined fortune of the Nazarbayev family is estimated at almost $10 billion.