Kazakhstan financial police probe 380 million tenge tin mine rail fraud

September 2, 2026 at 11:24 AM2 min

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Kazakhstan's Financial Monitoring Agency is investigating the suspected embezzlement of 380 million tenge in budget funds during construction of railway infrastructure to the Syrymbet tin deposit in North Kazakhstan Region. The 2017 contract, valued at 1.4 billion tenge, was awarded to Akcent KZ under the Business Roadmap 2020 program, but the facility remains uncommissioned despite repeated deadline extensions. The former head of the regional energy and utilities department and the contractor's director have been named suspects, with three apartments and a parking space seized.

Key Facts

The Financial Monitoring Agency is investigating suspected embezzlement of 380 million tenge in budget funds during construction of railway infrastructure to the Syrymbet deposit in North Kazakhstan Region.
The 2017 contract, valued at 1.4 billion tenge, was awarded to Akcent KZ under the Business Roadmap 2020 program.
The Syrymbet deposit is the only tin deposit in Kazakhstan and the largest in Central Asia.
The facility remains uncommissioned despite construction originally planned for completion in 2018 and repeated deadline extensions.
The former head of the regional energy and utilities department and the contractor's director have been named suspects, with three apartments and a parking space seized by court order.

Investigation Scope

The Financial Monitoring Agency is investigating suspected embezzlement of 380 million tenge in budget funds during construction of railway infrastructure to the Syrymbet deposit in North Kazakhstan Region. The 2017 contract, valued at 1.4 billion tenge, was awarded to Akcent KZ under the Business Roadmap 2020 program. The project involved construction of a railway access line, on-site track development, and engineering networks to the deposit. The facility remains uncommissioned despite construction originally planned for completion in 2018 and repeated deadline extensions. Investigators estimate the value of actually unperformed work at 380 million tenge.

Suspects and Asset Seizure

The former head of the regional energy and utilities department and the contractor's director have been named suspects in the case. A court order has placed three apartments and a parking space under arrest. The investigation is ongoing, according to the Financial Monitoring Agency.