Konaev court sentences Amanat Drive pyramid leaders to 8 and 1 years
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A court in Konaev, Kazakhstan, sentenced two leaders of the Amanat Drive financial pyramid to eight years and one year in prison. The scheme attracted more than 8,000 investors and collected over 21 billion tenge. The court also ordered confiscation of two apartments and three Lexus vehicles purchased with the funds.
Key Facts
- The Konaev court sentenced Shuken K.K. to 8 years in prison and Uratbek M.S. to 1 year.
- The Amanat Drive pyramid attracted more than 8,000 investors and collected over 21 billion tenge.
- Through fictitious contracts, over 1.8 billion tenge was withdrawn and cashed out.
- The court confiscated two apartments and three Lexus vehicles purchased with the funds.
- The verdict has not yet entered into legal force.
The Scheme
Organizers offered citizens the purchase of real estate and cars without interest and with the possibility of subsequent installment payments. The pyramid attracted more than 8,000 investors who contributed over 21 billion tenge. To launder criminal proceeds, a multi-level scheme was implemented using controlled legal entities: LLP 'Allo, ne kerek', LLP 'I M@RKETING', and LLP 'Gold SapaPremium'. These companies acted as fictitious service providers for advertising, analytics, and forecasting in the real estate and transport markets. Based on fictitious contracts, over 1.8 billion tenge was withdrawn and cashed out.
Assets and Confiscation
Using the attracted funds, the convicted individuals purchased two apartments and three Lexus vehicles. To hide the property from possible confiscation, they registered it in the names of trusted persons. The court ordered the confiscation of this property into state revenue. The verdict has not yet entered into legal force.