Embezzlement of budget funds allocated under an agricultural development program has been uncovered in the West Kazakhstan Region, according to infohub.kz.
The regional department of the Financial Monitoring Agency said investigators suspect the individual used two companies under his control, Agrokombinat ARSEN LLP and OnegeAgroService LLP. Documents were submitted to the authorized body to obtain investment subsidies to reimburse purported expenses for the construction of water-saving irrigation technologies in the Kuigenkol rural district of the Zhanibek district.
The Financial Monitoring Agency said in its official Telegram channel that fake payment orders and work completion certificates were submitted as proof.
Based on those documents, investment subsidies totaling 251 million tenge were transferred to the accounts of the controlled companies and were subsequently cashed out. Part of the money was used to buy a residential house.
A court has authorized the seizure of the property. The investigation is ongoing.