Former Head of Problem Loans Fund Detained on Corruption Charges

The Anti-Corruption Service of Kazakhstan's National Security Committee (KNB), acting under the coordination of the Prosecutor General's Office, has detained the former chairman of the board of JSC "Problem Loans Fund" under the Ministry of Finance.

According to investigators, he is suspected of abusing his official powers. The investigation alleges that he illegally granted a private owner the right to withhold funds from the sale of pledged assets, which were required to be transferred to the state fund. This action reportedly caused damage to the state amounting to 11.4 billion tenge.

In a separate scheme, he is accused of selling state property at a deliberately undervalued price, resulting in a budget shortfall exceeding 1.3 billion tenge.

In connection with this case, law enforcement also detained a business owner whose companies were debtors to the fund, along with his accomplices. They are suspected of forging documents to sell pledged land plots, causing an additional 800 million tenge in damages to the fund.

A court has sanctioned their arrest under Articles 190 (Fraud) and 361 (Abuse of Power) of Kazakhstan's Criminal Code. Their property has been seized as part of ongoing pre-trial proceedings.