Former CFO of Kcell solutions is going to jail for seven years

He embezzled more than $1 million

As the press service of the Financial Monitoring Agency reported, Madi Shokey, a former chief financial officer in Kcell Solutions has been sentenced to seven years in jail for embezzlement.

Along with a jail sentence, Shokey has also lost the right to hold executive positions with financial responsibility for ten years.

In December 2021, it was announced that Shokey is accused of embezzlement of $1 million. He wasted all that money on betting companies.

The security service of Kcell had launched its investigation and transferred its results to law enforcement agencies.

Kcell Solutions, where Shokey used to work, was established in 2017. The company is involved in IT and system integration. Kcell Solutions offers IT solutions for businesses, for example, to control motor pool or bulk SMS.

Kcell is a national telecommunication operator. The company provides mobile connection, fixed-mobile convergence, internet access, financial services, digital services and IT solutions in the area of system integration. As of April 1, 2022, among Kcell’s shareholders were Kazakhtelecom (51%), Pioneer Technologies (14.87%), First Heartland Jusan Bank (9.08%) and the pension fund (7.06%).

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