A court in Aktau has sentenced the organizers of the 'Sax Invest' financial pyramid. This was reported by Qazaqyia.kz citing Sputnik Kazakhstan.
According to the Financial Monitoring Agency, the criminal group posed as an investment fund, offering citizens to invest in securities, financial instruments, and other assets. They also claimed to be involved in an international diamond mining project in African countries.
Between 2018 and 2022, the criminal scheme attracted over a thousand depositors from Astana, Aktobe, Oral, and Aktau. The total amount of funds raised exceeded 9 billion tenge. A significant portion of the invested money was transferred not to company accounts but to the personal accounts of the organizers. Later, these funds were spent on gambling, purchasing apartments, building private houses, and other purposes.
The court found all eight members of the organized criminal group guilty and sentenced them to imprisonment ranging from 6 to 7 years. A private house and digital assets were confiscated to the state. The seizure of the convicts' property, including two cars, two apartments, and a land plot, remains in effect until civil claims are resolved. The verdict has not yet entered into legal force.