Nazarbayev’s billions remain untouched after January 2022 uprising, journalist says
Why, after the January 2022 unrest, have the assets of Kazakhstan’s former president Nursultan Nazarbayev’s family not been seized by the state? Journalist Zhaniya Urankayeva raised that question to Kazakh Prime Minister Olzhas Bektenov at a recent press conference.
A hollow promise?
Urankayeva noted that following the January events, there were numerous public statements about building a «New Kazakhstan.» However, she claimed that the Anti-Corruption Agency, previously headed by Bektenov, has focused only on minor corruption cases, failing to recover significant assets from high-profile figures.
«No one has stripped Nursultan Nazarbayev’s family of their assets. Everyone lives freely and moves around openly. We still see their wealth intact,» Urankayeva said. «You led the Anti-Corruption Agency, and now you’re the prime minister. Yet you avoid discussing how asset recovery efforts are being handled. For some reason, nothing seems to be coming back from the Nazarbayev family. Frankly, this all looks like window dressing.»
In response, Bektenov denied the allegation of superficial improvements and insisted the government is carrying out systematic, lawful work.
«You are well aware of the relatives of the first president who have been prosecuted,» Bektenov said. «All measures must comply with the law, and this work is ongoing. If you think 900 billion tenge, nearly a trillion, is a small amount, I doubt many would agree. But that’s what we have managed so far. We’ll continue this effort. This is not something that can be done overnight. If anyone has broken the law, they will be held accountable.»
Nazarbayev’s nephew
Following the January unrest, Nazarbayev’s nephew, Kairat Satybaldy, was arrested and charged with embezzling millions of dollars from Kazakhtelecom JSC and the Transport Service Center JSC. In September 2022, he was sentenced to six years in a medium-security colony.
In April 2024, Satybaldy faced trial again, this time on charges of laundering money obtained through criminal activity. He admitted guilt and agreed to transfer additional assets to the state as part of a deal with prosecutors.
Over the past two and a half years, Satybaldy has reportedly returned about $1.6 billion in assets to the state.
In August 2024, the remainder of his prison sentence was replaced with a restriction of freedom. The court has made the decision, citing Satybaldy’s good conduct and the return of illegally acquired assets to the state as factors influencing its ruling.
