Promised 70% Returns Turn into 3 Billion Tenge Loss: HAS Case Continues

The promised 70% profit turned into billions of tenge in losses for Kazakhstani citizens. New episodes in the case of the HAS financial pyramid have come to light, reports infohub.kz.

According to the official website of the Pavlodar regional prosecutor's office, the court has completed the trial of the organizers and participants of the HAS financial pyramid in Pavlodar.

In 2022-2023, a native of the North Kazakhstan region organized a criminal group consisting of his acquaintances, residents of Astana and the Pavlodar region, which attracted funds from citizens of the capital, as well as Almaty, Pavlodar, Ekibastuz, and other cities of the country.

Trusting promises of high returns, 376 citizens handed over more than 2 billion tenge to the pyramid participants.

The group's organizer was found guilty and sentenced to 12 years in prison, while other participants received various sentences.

Property obtained by criminal means, including land plots and apartments in Astana and Pavlodar, 18 cars, and cash amounting to over 300 million tenge, was confiscated. The verdict has entered into legal force.

As noted by the Pavlodar regional prosecutor's office, the protection of victims' rights did not end there. During further work, 139 more victims were identified, who suffered damages totaling 882,854,500 tenge. An investigation was conducted into the newly established circumstances, the necessary evidence base was collected, and the criminal case was sent to court.

In court, the state prosecutor presented convincing evidence, revealed the mechanism of the criminal scheme and its consequences for the victims. Particular attention was paid to protecting the property interests of citizens and the need to restore violated rights.

The court agreed with the state prosecutor's position: the guilty parties were sentenced to long prison terms.

As a result of the measures taken, the rights of 515 citizens who suffered damages totaling about 3 billion tenge have been protected, some of which have already been actually compensated to the victims.