In KazMunayGas's name, Pyramid creators netted more than 1 billion tenge in earnings
The Kazakhstan Financial Monitoring Agency (AFM) has taken action against the illegal financial pyramid scheme known as Kazmunaigaz Invest, which was operating in the Turkestan region. The scheme, which defrauded approximately 200 citizens out of over 1 billion tenge, was officially terminated in mid-July 2025.
According to a report from the AFM's press service, the scheme promised its participants a 50% profit every 15 days, but in reality, no securities were purchased. The suspects behind the scheme used criminal proceeds totaling 438 million tenge to fund their operations.
The investigation into the case is ongoing, but details about the specific suspects involved and the status of seized assets have not been disclosed in available sources. The authorities are actively addressing the fraud, and the shutdown of the scheme indicates that its operational activities have ceased.
The suspects attempted to save some of their property from confiscation by registering it in relatives' names, but a court order was issued for the seizure of property, which included a residential house and a restaurant in the Turkestan region, as well as two luxury cars: a Tank 500 and a BMW X5.
The financial scheme was based on trust and promises of quick and high returns from buying shares of JSC 'National Company KazMunaiGas'. The minimum initial investment was 500,000 tenge.
The Kazakhstan Financial Monitoring Agency's Shymkent branch was responsible for shutting down the scheme, and further information regarding the case is not subject to disclosure at this time. The authorities urge citizens to be cautious of similar schemes and to verify any investment opportunities before committing their funds.
[1] Kazakhstan Financial Monitoring Agency Press Release, July 2025. [2] Our Website Report, July 2025.
The Kazakhstan Financial Monitoring Agency's press release from July 2025 states that the terminated illegal financial pyramid scheme, Kazmunaigaz Invest, was active in the country's business sector, involving finance and crime-and-justice aspects. The suspects behind the scheme used general-news worthy amounts of criminal proceeds to fund their operations, totaling over 438 million tenge. The authorities continue to investigate the case, but details about specific suspects and seized assets remain undisclosed.
