An investigation is underway in Almaty into the creation and management of the "R.O.I." financial pyramid, which operated under the guise of a consumer cooperative. This was reported by Qazaqyia.kz citing Sputnik Kazakhstan.
According to the Financial Monitoring Agency, citizens were invited to participate in programs for the purchase of movable and immovable property. To this end, conditions for accumulating share contributions were created, and money was collected from residents.
"However, the funds received from new participants were used not for real business activities that would allow payments to each depositor, but to repay obligations to members who had joined the cooperative earlier. Currently, 275 citizens are recognized as victims. The total damage caused to them amounts to 217 million tenge," the agency said.
During the investigation, it was established that the organizers, under the pretext of paying for consulting services, transferred 94 million tenge from the cooperative to the accounts of persons affiliated with them, including the accounts of the "Kausar" individual entrepreneurship.
After court disputes began in 2022, six new consumer cooperatives were created in Almaty: "ShynSaulet", "Berekeli Shanyrak", "Aya-Aru", "Jasmin", "USCoop" and "Baiterek". These organizations were under the control of the head of the "R.O.I." consumer cooperative. They were used to bypass the bank accounts of the main cooperative, which had been blocked by private bailiffs, and to channel incoming money to other accounts.
"The person who organized the financial pyramid has been arrested for two months. With the court's authorization, three cars, 25 apartments and bank accounts have been seized," the agency said.
The investigation continues.