InfoHub Logo

A significant legal dispute has emerged in Kazakhstan, with Aidarbek Khusainov, the former owner of the prominent "Altyn Orda" market, suing Nurbol Nazarbayev, a relative of the former president. Khusainov is seeking a staggering 15 billion tenge, accusing Nazarbayev of unjust enrichment.

The Core of the Lawsuit

Court documents reveal that Khusainov firmly believes Nurbol Nazarbayev has unlawfully acquired funds and is demanding their return. The lawsuit, filed by Aidarbek Khusainov against Nurbol Bolatovich Nazarbayev, centers on the recovery of alleged illicit gains.

Assets Frozen Amidst Legal Proceedings

In a significant development, a court has ordered the freezing of Nazarbayev's assets and bank accounts up to the amount claimed in the lawsuit. This precautionary measure was requested by Khusainov to ensure the potential recovery of the funds. The court's decision to freeze assets, totaling 15 billion 171 million tenge, was made to prevent Nazarbayev from evading the fulfillment of a future court judgment.

Background: The "Altyn Orda" Market Dispute

Aidarbek Khusainov's name has been frequently linked to legal cases involving the Nazarbayev family and the "Altyn Orda" market. This major Almaty marketplace, known for its vast array of goods, was long associated with Bolat Nazarbayev, the former president's brother. Allegations of irregularities at the market surfaced more prominently following the January 2022 events, leading to official investigations.

However, the market's history is complex. Before 2013, Bolat Nazarbayev had no direct involvement. At that time, Aidarbek Khusainov held a 39% stake in Kurylys LTD, the company that owned the "Altyn Orda" market, representing a controlling interest.

Allegations of a Hostile Takeover

According to court materials, a man named Serik Apsaparov emerged around 2013 with associates, allegedly orchestrating a takeover of the market and its transfer to Bolat Nazarbayev's name. Apsaparov reportedly sought to acquire the shares of all other shareholders, totaling 60% of the company. Court documents describe aggressive tactics, including the alleged forceful seizure of the management office and intimidation of shareholders, leading them to "gift" their shares to Bolat Nazarbayev.

Khusainov himself claims he was coerced into selling his stake under duress for approximately $1.3 million, a price significantly below its market value. By the summer of 2013, Bolat Nazarbayev was reportedly the sole owner of the market, valued at 3.4 billion tenge.

In 2023, Serik Apsaparov pleaded guilty to charges of raiding and expressed remorse. He received a three-year suspended sentence without confiscation of property.

Previous Legal Attempts and Their Outcomes

Following these events, Khusainov reportedly contacted the economic investigation department, demanding an investigation. Although an application was accepted, the market was subsequently sold under a power of attorney from Bolat Nazarbayev. Khusainov then initiated legal actions against Nazarbayev and associated companies, seeking to reclaim his share and compensation for damages, lost profits, and moral harm.

In a previous lawsuit in 2023, Khusainov claimed the "Altyn Orda" market generated 12-15 billion tenge annually. He estimated his lost share value at approximately 5 billion tenge and calculated his total lost income over the years to be around 50 billion tenge. He sought compensation for moral damages, citing alleged physical force and psychological pressure, including threats of criminal prosecution.

However, the court in that instance found no evidence that Bolat Nazarbayev's actions caused Khusainov moral damages. Furthermore, Nazarbayev was not mentioned in any proceedings related to Khusainov or the "Altyn Orda" situation. Ultimately, the court rejected Khusainov's claims, citing a lack of supporting evidence and the expiration of the statute of limitations.

Connecting the Past to the Present Lawsuit

The current lawsuit against Nurbol Nazarbayev is seen by observers as a potential continuation of Khusainov's efforts. It is understood that upon Bolat Nazarbayev's death, some assets were transferred to Nurbol. This new legal action could be an attempt to recover compensation from him. While this remains speculative, the historical context suggests it as a plausible scenario. Tengrinews.kz will continue to monitor developments in this case.