Former banker Zhomart Yertayev, convicted of embezzling billions, has been released after fully serving his sentence — but his story is not over yet, as he will be placed under administrative supervision, infohub.kz reports.
The Committee of the Penal Enforcement System (KUIS) commented on Yertayev's release.
"In accordance with the law, this convicted person will be subject to administrative supervision for a period of 6 years. Administrative supervision entails legally established control by internal affairs bodies over the behavior of a person after release from places of deprivation of liberty," KUIS told Kursiv.
Zhomart Yertayev was born in 1972 in Almaty Region. In the early 2000s, he headed Alliance Bank, and later worked at BTA Bank and Eurasian Bank. He also led Alma-TV and Alma Group.
In 2009, Yertayev was detained in connection with the embezzlement of $1.1 billion from Alliance Bank. After nine months in pretrial detention, he received a suspended sentence.
In 2020, he was sentenced to 11 years for embezzling 144 billion tenge from Bank RBK. In 2021, the term was reduced to nine years.
In the fall of 2025, Yertayev was released on parole under an amnesty, but the parole ruling was overturned and he was returned to the penal colony.
Earlier, journalist Mikhail Kozachkov reported that the convicted ex-banker had been finally released.