The activities of the Albee lombard chain have been halted in the Almaty region. This was reported by the Financial Monitoring Agency. This was reported by Qazaqyia.kz citing Sputnik Kazakhstan.
According to the investigation, Albee-Lombard LLP had previously been removed from the register of microfinance organizations and deprived of the right to conduct lombard activities. However, after changing its name to Albee-KM LLP, the company continued to issue loans secured by jewelry in the Almaty and Turkestan regions.
"The lombards were mainly located near markets and shopping centers. To attract clients, they distributed advertisements claiming that pledged property was valued highly and that taking out a loan would not affect credit history," the statement said.
According to the agency, loans were issued at 2% per day. This is six times higher than the legal maximum rate of 0.3%. Loan agreements were processed using pledge tickets stamped by the former Albee-Lombard LLP. Cash settlements were conducted in cash and through bank accounts of individual entrepreneurs controlled by the suspects.
The criminal income exceeded 146 million tenge. A preventive measure in the form of a written undertaking not to leave and to maintain proper conduct has been applied to the female suspect. With court approval, 21 apartments, 5 land plots, 7 vehicles, 7 garages, 2 shops, and a hotel have been seized. The criminal case has been sent to court.