Pre-trial investigation against Kairat Satybaldy finishes in Kazakhstan

The government has taken back more than $506 million

As the Anti-Corruption Agency’s press services reported, the pre-trial investigation against Kairat Satybaldy and his accompanies is over. The case was opened to investigate embezzlement in Kazakhtelecom and the Center for Transport Services.

There are five suspects in the case. One of them is in custody and two are under house arrest.

In the course of the investigation, the government has returned more than $506.5 million worth of assets and cash that were earned illegally.

Moreover, Satybaldy is also accused of tax and customs fee avoidance and laundering of illegal income.

The authorities are continuing the search for other illegal assets that were controlled by the suspects.

As of today, Kazakhstan’s investigators have found more than $900 million worth of property, cars and cash both in the country and abroad. The authorities are going to seize these illegally obtained assets soon.

On March 13, 2022, the Anti-Corruption Agency announced the arrest of Kairat Satybaldy. He has been accused of embezzlement from Kazakhtelecom, the national communication company. On March 15, the agency said that the suspect was arrested for two months. Two days later, the authorities arrested his wife Gulmira. She has been accused of raider seizure of a business. A pre-trial investigation against her has also been launched. 

On April 12, Skyline Investment Company S.A. and Alatau Capital Investment, two private companies that were controlled by Satybaldy, voluntarily gave over 28.8% of Kazakhtelecom shares to the country’s government.

On June 16, the prime minister’s office revealed its plan to decrease the role of the company in the national market of mobile communications to de-monopolize the energy and communication industry.

Kazakhtelecom is a national operator in the sphere of telecommunications in Kazakhstan. The company was established on June 17, 1994. Kazakhtelecom is the only owner of the National Information Highway, a fiber optic cable that connects different cities all over the country in one ring.

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