A verdict has been handed down in Kostanay in a case involving illegal microfinance activities and money laundering, reports the website infohub.kz.
According to the official Telegram channel of the Financial Monitoring Agency (AFM), the AFM Department for Kostanay region established that a local resident, without the license required by law, organized the issuance of loans secured by property. To attract clients, advertisements were used on a popular website and on Instagram.
“Taking advantage of the difficult financial situation of citizens and their inability to obtain loans from second-tier banks, he provided loans at high interest rates — up to 120% per annum,” the AFM said.
At the same time, the agency notes that the notarized contracts specified inflated loan amounts, since they included interest, processing fees, and other payments in advance. For example, one victim actually received 9 million tenge, while the contract stated 14 million tenge. Subsequently, another contract was drawn up providing for an obligation of 18 million tenge, but no funds were provided under it. Later, by court decision, 26 million tenge was recovered from the victim.
As a result of the illegal activities, more than 50 citizens were drawn into debt obligations on deliberately unfavorable terms. The amount of criminal income exceeded 1 billion tenge.
By the court's verdict, he was sentenced to 2 years and 8 months in prison. In addition, the court confiscated property acquired with criminal proceeds: four apartments, two land plots, as well as Mercedes-Benz G500, Dodge RAM 1500, and Hyundai Santa Fe vehicles.
The verdict has not entered into legal force. Recall that in May 2025, it was reported that the AFM Department for Kostanay region was conducting a pre-trial investigation into the fact of illegal microfinance activities. It was indicated that the suspect, without the appropriate license, provided loans at high interest rates through mobile applications, including Instagram.