The 41-year-old head of a Kazakh company is a defendant in a criminal case involving large-scale embezzlement. According to investigators, the entrepreneur stole 840 million tenge (about $1.7 million) from the state budget.
Investigators report that the businessman received funds from the national fund of the republic, secured by a land plot, for the development of his project.
However, investigators believe that the money was spent on purposes far from the original plan.
The businessman with his representatives in court believe that the national fund, through a social entrepreneurial corporation, allocated an insufficient amount for the purchase of equipment. Initially, the entrepreneur requested more than 2.5 billion tenge for the business, but never received the full amount, which created difficulties for the development of the case and left him in debt.
It is noted that the suspect was arrested last year. The trial is ongoing.
