A scheme to embezzle budget funds allocated for a livestock investment project has been uncovered in the Kyzylorda Region, with tens of millions of tenge transferred to controlled accounts and cashed out, infohub.kz reports.
According to the official Telegram channel of the Financial Monitoring Agency, the agency's Kyzylorda Regional Department uncovered the embezzlement of funds allocated for a livestock investment project.
In 2021, a joint venture, Syzdyk Ata LLP, was established with the participation of Baikonur SEC JSC. The total project cost was 311 million tenge. Its goal was to develop beef cattle breeding and provide residents of the Zhanakorgan District with quality meat products at affordable prices.
Under the project, the corporation contributed 151.5 million tenge to the company's authorized capital. The funds were intended for the purchase of 1,600 sheep, 130 head of cattle, and meat packaging equipment.
"According to the investigation, after the livestock was purchased, the head of the company organized a scheme to siphon off part of the funds. A total of 60 million tenge was illegally transferred to accounts controlled by the suspect—IE Nurai and IE Abylaikhan—and cashed out," the agency said.
The suspect has been placed in custody. With court approval, two vehicles belonging to him have been seized. The criminal case has been sent to court.