Kazakhstan Returns $1.7 Billion of Illegally Withdrawn Assets

ASTANA – Kazakhstan returned over 760 billion tenge ($1.7 billion) in illegally withdrawn assets, including $575 million from foreign jurisdictions, according to the May 12 statement of the country’s Prosecutor General’s Office.

Photo credit: bitdegree.org.

The Supreme Court upheld 24 appeals of the Prosecutor General against decisions previously unreasonably made in favor of oligopolies. The courts also satisfied dozens of claims to return illegally sold state properties, including production facilities, markets, commercial premises and elite sites. 

“Law enforcement agencies returned 620 billion tenge ($1.3 billion) in criminal assets, of which $575 million came from foreign jurisdictions. More than 100 requests for legal aid were issued to foreign jurisdictions, confiscating property worth over $100 million,” reads the statement.

The prosecutors also returned more than 460,000 hectares of land previously unreasonably provided to oligopolies or not used for their intended purpose.

They also returned to the state a share in the wholesale market of Almaty that was purchased at a price four times lower than the market price and 17 commercial premises of the Almaty airport illegally owned by oligopoly entities.

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