The organizer of the World Business Consulting financial pyramid has been extradited to Kazakhstan, reports infohub.kz.
The capital department of the Agency for Financial Monitoring (AFM) has completed an investigation into the creation and management of a structural unit of the financial pyramid. According to investigators, in 2020 the suspect solicited money from citizens under the guise of investment programs promising high returns. The company lacked a license and did not actually conduct any investment operations.
“Funds were collected in cash without any accounting documentation. To create an appearance of legitimacy, depositors were given personal accounts on an online platform that falsely displayed ‘yields’,” the AFM said. The money was then distributed according to a classic pyramid scheme: payments to earlier participants were made using funds from new depositors. To expand the client base, presentations, promotional events, and trips to the UAE and Turkey were used.
The scheme was halted at an early stage. In 2024, the suspect was placed on an international wanted list, and a court issued a pretrial detention order in absentia. In January 2026, the woman was arrested in Georgia and extradited to Kazakhstan. By court order, her land plot was seized. The criminal case has been sent to court.
Since the beginning of the year, the AFM has shut down 15 financial pyramids. To compensate victims, assets of the organizers worth a total of 662 million tenge have been seized. As a preventive measure, 22 social media chats with over 25,000 participants were blocked, and in the Cyber Surveillance system, 1,100 websites and accounts showing signs of illegal content were blocked. The AFM urged citizens to remain vigilant and not invest their savings in dubious financial organizations.