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Directors Sentenced for Embezzlement in Kazakhstan Oil Industry

in Corruption / Kazakhstan - by


In the Aktobe City Court, a criminal case involving the directors of two oil companies was heard. The case revolved around embezzlement and misappropriation of entrusted property on a large scale. In 2018, the companies signed a contract for the rental of equipment for a well until December 31, 2021.

However, in January 2020, one of the directors acted with selfish motives to embezzle funds by using equipment belonging to the client company and obtaining payment for the rental. The damage amounted to 130,108,118 tenge.

The court sentenced the director of the Oil and Gas Production Department No.3 of AO "OzenMunayGaz" to 8 years in prison, with a 10-year ban on holding managerial positions in oil and gas companies. The director of the Aktobe Oil Service Company received a similar sentence.

The embezzled funds were recovered in favor of "OzenMunayGaz." The verdict is not yet final.

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