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Court Sentences Directors for Embezzlement of Oil Companies in Kazakhstan

in Corruption / Kazakhstan - by


The Aktobe City Court has reviewed a criminal case against the directors of "Aktobe Oil Service Company" and the "Oil and Gas Production Department No.3 of OzenMunaiGaz" for embezzlement on a large scale.

The court found that in 2018, the companies had signed a contract for the lease of equipment for a well, but instead, in January 2020, one of the directors acted with criminal intent to embezzle funds from OzenMunaiGaz by falsely invoicing for equipment rental. The damage amounted to 130,108,118 tenge.

The court sentenced the director of the Oil and Gas Production Department No.3 of OzenMunaiGaz to 8 years in prison and banned him from holding managerial positions in oil and gas companies for 10 years. The director of "Aktobe Oil Service Company" received a similar punishment.

The embezzled funds were recovered in favor of OzenMunaiGaz, but the verdict is not yet final.

In a separate case, preliminary hearings have begun in Astana involving the former Minister of National Economy, Kuandyk Bishimbayev, who is suspected of the brutal murder of his wife, Saltanat Nukenova.