On July 21, the Almalinsky District Court in Almaty concluded the judicial investigation into the case of the heads of the international news agency KazTAG. In the morning, the defense filed motions for new examinations and additional witnesses, but the court denied them and declared the investigation complete, reports the website infohub.kz.

Following that, the participants spent the remainder of the day reading and commenting on case materials. The discussions focused on KazTAG publications, expert reports, correspondence, audio messages, and other evidence used by both sides to support their arguments. Much of the debate again centered on the testimony of lawyer Svetlana Oralbayeva. The previous day, the court had spent the entire day questioning her. She described consultations with Zhanna Kaparova, a meeting between the victims and the editorial staff, and claimed that the publications were not coordinated with her, and that Kaparova had misled her. Kaparova, however, stated that Oralbayeva dictated messages to her, sent templates of complaints to other victims, and helped devise the strategy. According to the defense, this contradicts Oralbayeva's claim that Kaparova misled her. 'Svetlana, trying to defend herself, is slandering Kaparova,' said the defendant's lawyer.

In the afternoon, the parties continued reading case files. In addition to materials on KazTAG publications, they revisited the episode involving a conflict between Aset Mataev and Valikhan Ramazanov near Dostyk Plaza and the testimony of witness Diana Makasheva. The defense specifically noted the behavior of a man in a green jacket and questioned whether he had provoked the conflict. According to the defense, this detail is important for assessing how the brawl began and who instigated it. Disputes also arose while examining documents. The parties argued about which materials should be included in the case and how thoroughly they should be read out in court. 'I ask that every page be read out in your presence,' the defense stated.

The case against the heads of KazTAG began in December 2025 after a complaint from Freedom Holding Corp. The company alleged that the agency had launched an information attack against it, publishing about 250 articles accusing it of fraud, running a pyramid scheme, and misappropriating client funds. Of these, 12 articles were analyzed by experts in February and were found by a civil court to be false. Following Freedom Finance's complaint, a criminal case was opened against Aset Mataev and Amir Kasenov under Article 274 of Kazakhstan's Criminal Code on dissemination of deliberately false information. The company estimated damages at $613 million, or about 320 billion tenge. The case also involves Zhanna Kaparova, a resident of Astana. According to the investigation, she initiated the approach to KazTAG and, together with the other defendants, participated in disseminating what the prosecution says was deliberately false information about Freedom Finance. Kaparova denies guilt and claims she was simply seeking an investigation after her mother lost money investing through the company. Amir Kasenov was detained in late 2025. He alleged psychological pressure and torture; police denied the allegations. Aset Mataev was detained in March 2026 in Almaty after a conflict. He was later placed under house arrest.