Aggravated depositors of "Garante 24 Lombard" and "Vignedny Loan" urge for a transparent probe into the fraudulent activities they've endured.
In the heart of Kazakhstan, the criminal case against the financial pyramid scheme "Guarant 24 Lombard" is being investigated in Aktobe. The scheme, with three Lombard branches in Almaty, has left a trail of financial destruction, affecting thousands of citizens.
The authorities have taken decisive action, blocking about 7.7 billion tenge (~USD 17 million) connected to fraudulent financial pyramid schemes and shutting down 10 such schemes recently [3]. This crackdown is a clear indication that the Kazakh government considers these scams a serious issue.
The case against "Guarant 24 Lombard" is not isolated. In the broader region, including Russia and adjacent markets, over 4,000 fraudulent and illegal financial schemes were identified in the first half of 2025, with a 20% year-over-year increase [1]. This trend may reflect similar risk environments in Kazakhstan due to geographic and economic proximity and shared market vulnerabilities.
Dmitry Akmaev, the chief specialist of the department of the Agency of the Republic of Kazakhstan for Regulation and Development of the Financial Market, has warned that returns higher than what the market dictates are technically impossible [5]. Despite this, local celebrities have been involved in aggressive advertising for these schemes, potentially luring unsuspecting investors.
The total damage to investors is estimated at 22 billion tenge. Nurlan Ashimov, a 46-year-old Kazakhstani, lost 10 million tenge in the scheme. Over 18,000 Kazakhs have filed complaints with the police regarding "Guarant 24 Lombard" and "Profitable Loan."
The criminal case against "Guarant 24 Lomband" is now complete, and the regional directors of the Almaty branches have been arrested. Interpol is now involved in the capture of the five masterminds, most of whom have been arrested abroad.
The government imposes enforcement actions such as blocking assets related to fraudulent schemes, as demonstrated by the recent 7.7 billion tenge seizure [3]. Kazakhstan also has a unified financial regulatory agency overseeing pension funds and financial markets, aiming to provide oversight and protect investors [4]. There is an ongoing emphasis on modernization and regulatory reforms, which include measures to improve financial transparency and investor safeguards across different sectors [3][4].
In the regional context, the Bank of Russia has been able to shorten the lifespan of such schemes by quicker identification and enforcement, a practice Kazakhstan might emulate or coordinate with given economic ties [1]. Akmaev concluded that eventually, the flow of trusting citizens runs out, and the financial pyramid ceases to exist [2].
Despite the potential fines, some celebrities seem unfazed by their involvement in questionable projects, as the earnings they receive outweigh the negligible fines [6]. It is a reminder that education and vigilance are crucial in protecting citizens from such financial traps.
References:
- The Bank of Russia's Report on Fraudulent Financial Schemes in the First Half of 2025
- Akmaev's Statement on Financial Pyramids
- Kazakhstan's Financial Regulatory Agency's Statement on Seizures and Scheme Shutdowns
- Kazakhstan's Financial Regulatory Agency's Statement on Modernization and Reforms
- Akmaev's Statement on Market Returns and Financial Pyramids
- Report on Celebrity Involvement in Financial Pyramid Schemes
- The investigation into the "Guarant 24 Lombard" case in Aktobe, Kazakhstan, is part of a broader focus on curbing fraudulent activities in the finance sector, as evidenced by the recent crackdown on over 4,000 such schemes in the region, including Russia and adjacent markets.
- The Kazakh government's actions, such as imposing enforcement actions like blocking assets related to fraudulent schemes and modernizing financial regulations, aim to create a more secure business environment and protect investors from financial pyramid schemes like "Guarant 24 Lombard."
