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In a significant development in East Kazakhstan، the director of a major juice and beer company and her brother are facing serious charges related to fraud and document forgery. The alleged scheme، centered around a multi-story housing project، has reportedly defrauded over ten individuals، with total damages estimated at a staggering 114 million tenge.

The Genesis of the Deception

According to investigative findings، the scheme was initiated in June 2022 by a previously convicted resident of East Kazakhstan. His plan involved extorting money under the guise of constructing a multi-story residential building. To lend credibility to his criminal enterprise، he enlisted his own sister، the director of a prominent local company، who owned a plot of land in the city of Oskemen.

A Facade of Legality

To create a semblance of legitimacy، the male suspect entered into a joint project agreement with a businesswoman. This agreement، however، was merely a front. The true intention was to acquire funds through deceit and abuse of trust. The man presented himself to the businesswoman as a successful construction entrepreneur.

Under the terms of this agreement، the businesswoman was tasked with attracting investors and selling apartments، while the man was responsible for the construction work. A company named 'Shanyrak El' LLP was registered with the justice authorities، with equal shares in its charter capital.

Misleading Promises and Investor Betrayal

The accused then approached the businesswoman، proposing to sell her the land for 20 million tenge، assuring her it was suitable for a multi-story building and included access to necessary engineering networks. However، the investigation revealed that these utilities were actually intended for private residences، not a large apartment complex.

The businesswoman proceeded to attract investors through her firm، signing reservation agreements. While construction of the three-story building was formally initiated، the company headed by the accused sister was appointed as the contractor. Crucially، the primary project expenses، including design، geological surveys، transportation، and salaries، were financed by the businesswoman's firm.

Work Stalls، Investors Demand Refunds

Despite a promise to complete the project within a year، by early 2023، investors noticed a lack of actual construction activity at the site. They began demanding their money back. The prosecution alleges that the accused refused to return the funds or complete the project.

Legal Battles Ensue

After the businesswoman returned a portion of the funds to investors from her own resources، she filed a lawsuit seeking to recover 98.8 million tenge in debt and contractual penalties. The initial court rejected her claim، and an appellate court upheld this decision. Subsequently، a criminal case was initiated based on the forgery of documents. Investigators believe the accused submitted backdated documents، acts of work performed، and contracts during the civil proceedings.

The legal proceedings are ongoing.