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A dispute has emerged surrounding the ownership of Sulpak, one of Kazakhstan's largest electronics retailers. Svetlana Pak, daughter of the late co-founder Andrey Pak, has come forward alleging that her father's share in the company was transferred without his knowledge or consent.

Allegations of Share Transfer

According to Svetlana Pak, her father, Andrey Pak, was instrumental in founding Sulpak in 1992. However, she claims he later lost his stake and was unable to return to Kazakhstan. She further stated that all the company's debt obligations were registered under her father's name.

"I will not remain silent any longer. I will write to the President and do everything in my power. Businessman Almas Sultanov must explain to me how my father's share in Sulpak ended up registered in his name. At that time, my father couldn't enter the country because all the debts were registered under his name. Meanwhile, Sultanov made it onto the Forbes list and became one of the richest people in Kazakhstan," Svetlana Pak stated.

She also refuted media reports suggesting that Andrey Pak had sold his share.

Company Origins and Current Situation

Publicly available information indicates that Sulpak was established in Almaty in 1992 by Andrey Pak and Almas Sultanov. The company's name is derived from the initial syllables of their surnames. Andrey Pak passed away in September 2024.

Almas Sultanov is considered one of Kazakhstan's wealthiest entrepreneurs, with his net worth estimated at approximately $285 million, according to Forbes Kazakhstan.

Previously, reports surfaced regarding Sulpak's significant debts. In 2010, the company reportedly owed Kazkommertsbank $190 million.

Sulpak's press service has stated that they are currently investigating the situation. An official response to Svetlana Pak's claims has not yet been released.

This information was reported by the Infohub.kz news agency.