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Former Head of National Chamber of Entrepreneurs Sentenced for Fraud

in Crime / Kazakhstan - by


On May 13, the Specialized Interdistrict Court for Criminal Cases of the city of Astana considered a criminal case against the former head of the National Chamber of Entrepreneurs "Atameken", Abay Myrzakhmetov. He was accused of large-scale fraud.

According to the case materials, Myrzakhmetov, from May to October 2022, assured B. that he had the ability, for a monetary reward, to resolve the issue of releasing his brother from custody and terminating the pre-trial investigation. He promised to do this through high-ranking officials of state and law enforcement agencies. As a result, through fraudulent means, he embezzled funds amounting to 13.9 billion tenge by formalizing loan agreements.

The defendant admitted guilt and requested a fair punishment.

"By the court's verdict, Myrzakhmetov was found guilty of committing large-scale fraud and sentenced to five years of imprisonment with a prohibition on holding positions in local government bodies and quasi-governmental sector entities for a period of 10 years, with the confiscation of illegally obtained funds amounting to 5.8 billion tenge for the benefit of the state."

The Specialized Interdistrict Court for Criminal Cases of Astana

Based on Article 49, Part 2 of the Criminal Code of the Republic of Kazakhstan, the court decided to recommend to the President of Kazakhstan the deprivation of the defendant's state awards: the Order of "Qurmet" and the Order of "Barys" of the third degree.

The arrest imposed on Myrzakhmetov's property remains in effect.

The court's verdict has not yet entered into legal force.

On May 10, 2023, the former head of the National Chamber of Entrepreneurs "Atameken" was detained for a large bribe.

Abay Myrzakhmetov resigned as the chairman of the board of the National Chamber of Entrepreneurs "Atameken" in February 2022. He announced this at the IX Extraordinary Congress of the National Chamber of Entrepreneurs, agreeing with the criticism directed at him.

Previously, he was a member of the government commission for restoring economic growth under the President of Kazakhstan.

The trial began on January 22, 2024.