The Kazakhstan commission approved the return of illegally acquired assets

The Kazakh commission for the return of illegally acquired property has approved agreements on the voluntary return to the state of illegally acquired property in the amount of more than 40 billion tenge (90.5 million US dollars) . This was announced on April 29 at a meeting chaired by the Prime Minister of Kazakhstan, Olzhas Bektenov, the Prime Minister's press service reports.

Under the chairmanship of the Prime Minister of the Republic of Kazakhstan, Olzhas Bektenov, a meeting of the Commission on Returning Illegally Acquired Property to the State was held. Photo: press service of the Prime Minister

In addition to more than 38 billion tenge ($86 million) in cash, assets include a business complex in Astana worth 2 billion tenge ($4.5 million). The returned funds will be used for social purposes, including flood relief.

The commission also approved investment agreements worth 7 billion tenge ($15.8 million) for the construction of two infrastructure facilities in Astana and Shymkent by individuals subject to the law on the return of illegally acquired property to the state. These projects should create jobs and provide additional tax revenue.

According to the General Prosecutor's Office, individuals transfer assets to offshore jurisdictions such as the Isle of Man, the British Virgin Islands, Malta, Cyprus, the Seychelles and other countries, Kazinform reported on April 29.

According to the UK's National Crime Agency, the most effective tool in such cases is to establish secure channels for the exchange of information between law enforcement agencies, supported by memoranda guaranteeing the security and appropriate use of the information provided.

"The National Agency for Combating Crime interacts with law enforcement agencies of Kazakhstan, including within the framework of our work to suppress the activities of corrupt elites and their accomplices. If the activities of the National Crime Agency lead to the recovery of assets that have been illegally removed from overseas jurisdictions, we will work with partners in the UK and abroad to recover them in accordance with agreed processes and legislation," the British agency said in a statement. at the request of Kazinform.

Over the past two years, assets worth about 1 trillion tenge ($2.2 billion) have been returned to the country . The commission discovered 344 objects of movable and immovable property, including 131 abroad, and received information on securities worth 448 billion tenge ($994.6 million).