Astana Court Convicts Ponzi Scheme Chief; Depositors Lost 23 Million Tenge

An Astana court has handed down a guilty verdict to the head of a structural unit of a Ponzi scheme whose operations cost two depositors about 23 million tenge, the website infohub.kz reports.

According to NUR.KZ, citing the Astana courts, on September 17, 2026, the Astana Interdistrict Criminal Court found citizen M. guilty of creating and running a Ponzi scheme under Article 217, Part 3, Clause 2 of the Criminal Code.

"The criminal investigation body accused M. of running a structural unit of the World Business Consulting Ponzi scheme. As a sixth-level director, she caused the victims material damage totaling about 23 million tenge," the court's statement said.

The court established that between August and September 2020, while running the Ponzi scheme, M. raised funds on an especially large scale. Her actions caused material damage to two victims: B. — about 8 million tenge, and R. — about 15 million tenge.

"The defendant's guilt was proven by the testimony of victims and witnesses, physical evidence and other materials in the criminal case. The prosecutor asked that M. be sentenced to 6 years in prison with a 5-year ban on activities involving raising citizens' funds and investments. The defendant partially admitted guilt. The defense asked that she be acquitted due to the absence of a criminal offense in her actions," the court's statement said.

It is noted that the sanction under Article 217, Part 3 of the Criminal Code provides for a prison term of 5 to 12 years with confiscation of property and a ban on holding certain positions or engaging in certain activities for up to 7 years.

In imposing the sentence, the court considered partial voluntary compensation of the damage as a mitigating circumstance. No aggravating circumstances were established by the court.

"Taking into account the circumstances and gravity of the criminal offense, the presence of a mitigating circumstance and the absence of aggravating circumstances (no prior criminal record), the court found M. guilty under Article 217, Part 3, Clause 2 of the Criminal Code and sentenced her to 5 years in prison to be served in a minimum-security penal institution, with a 5-year ban on activities involving raising citizens' funds and investments," the court said.

The civil claim filed by victim B. was satisfied. The verdict has not entered into legal force.