Astana court sentences four Qyran complex employees to 8–9 years for fraud

September 10, 2026 at 09:36 AM2 min

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An Astana court sentenced four employees of International Invest Company IIC to 8–9 years in prison for defrauding buyers in the Qyran residential complex. The court also granted claims by 35 victims totaling over 2.2 billion tenge and ordered 3.9 billion tenge recovered for the company. The verdict has not yet entered into force.

Key Facts

Four employees of International Invest Company IIC received prison terms of 8 to 9 years.
The court granted claims by 35 victims totaling over 2.2 billion tenge.
The court ordered recovery of 3.9 billion tenge in favor of the company.
78 properties worth 1.3 billion tenge were transferred to victims, and 73 properties to bona fide buyers.
The verdict has not yet entered into legal force.

Fraud Scheme

Instead of sale-purchase agreements, the convicted employees drew up booking contracts, deposit agreements, and preliminary agreements that were not subject to state registration and did not give buyers ownership rights. In the sales office, potential buyers were shown mock-ups, technical passports, powers of attorney, and certificates that allegedly confirmed the company's ownership of the properties. Buyers were offered apartments, commercial premises, and parking spaces at below-market prices and were assured the deals were fully legal. Payments were made in cash or transferred to personal accounts of scheme participants and were not reflected in the company's accounting and bank records.

Second Scheme

The convicted employees also carried out a second fraudulent scheme aimed at stealing money from the developer company itself. Acting on behalf of International Invest Company IIC, they concluded fictitious sale-purchase agreements with clients and registered ownership rights to properties, but the money from the sales did not reach the company's cash desk.

Court Ruling

The court satisfied the claims of 35 victims for a total of over 2.2 billion tenge. Another 3.9 billion tenge was ordered to be recovered in favor of the company. 78 properties worth 1.3 billion tenge were transferred to victims, and 73 properties to bona fide buyers. The verdict has not yet entered into legal force.