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A major financial pyramid scheme trial is currently underway in Semey، where hundreds of victims are seeking justice after losing substantial sums of money. The total losses are estimated to exceed 1 billion tenge (approximately $2.2 million USD).

Currently، over 100 individuals have been officially recognized as victims، and six suspects are facing charges in connection with the elaborate fraud.

Victims Speak Out

One Semey resident shared her harrowing experience، revealing she has been living in a rented apartment for six months after investing her family's savings into the scheme. She explained that several years ago، her family entrusted 15 million tenge (around $33،000 USD) to the organizers of the financial pyramid. Enticed by a friend's recommendation and the promise of a larger home for her children، her hopes were shattered.

"Honestly، I never thought someone would do this، knowing my situation، that I have five children، and one of them has special needs،" the victim stated. "The court case is not progressing quickly، but we hope for a fair decision."

A Family Loses 200 Million Tenge

Among those who lost significant amounts is a father of many children، who claims to have lost nearly 200 million tenge (approximately $440،000 USD). He recounted how initial small investments grew into larger sums as trust was built، only for that trust to be exploited.

"I invested nearly two hundred million tenge into 'Rakhat' LLP. Initially، we invested small amounts، but then they gained our trust and we invested more. But they took advantage of our trust. Now we cannot get our money back،" he said.

According to the affected individuals، the financial ruin has taken a severe toll، with many struggling to cope with the losses. Their dreams of purchasing vehicles، homes، and securing a brighter future for their children have been dashed.

In Semey، a total of 141 people have officially confirmed their status as victims of the financial pyramid.

Investigation Details

Investigation data indicates that the scheme operated using a classic pyramid structure، where funds from new investors were used to pay earlier participants. This method is a hallmark of such fraudulent operations.

"The total damages exceed one billion tenge. Over 200 million tenge of this amount has been partially reimbursed. The case is currently being heard in court،" announced Saken Kondybayev، Deputy Head of the Department of Economic Investigations for the Abai Region.

Law enforcement agencies are urging citizens to exercise caution and thoroughly vet any investment opportunities presented to them to avoid falling victim to similar scams.

This was reported by the Infohub.kz information agency.