Developer in Aktobe sentenced to six years in prison

In Aktobe, a criminal case was heard against a developer accused of committing fraud and forging official documents, Liter.kz reports with reference to the press service of Court No. 2 of the city of Aktobe.

The court established that B., being the sole founder of several LLCs, in 2018 began construction of houses of the housing cooperative “Alash Orda-1”, located at the address: Aktobe, microdistrict Batys-2, house 22d, with the involvement of funds from shareholders and the completion of construction in 2020. And in 2019, he began construction of houses of the residential complex “AviatorPremium”, located in the Aviagorodok quarter, house No. 40, also with the involvement of funds from shareholders and the completion of construction in 2020.

“On the housing cooperative “Alash Orda-1”, out of the promised three (1, 2, 3 sections) residential buildings and an apart-hotel, only the frame of one building (3rd section) was erected, and on the residential complex “AviatorPremium”, one building (consisting of three floors and six apartments) and only the frame of four buildings were built. In total, there are 137 shareholders in the housing cooperative “Alash Orda-1”, who have transferred a total amount of more than one billion tenge. Of these, 81 persons were recognized as victims during the pre-trial investigation. On the residential complex “AviatorPremium”, there are 39 shareholders, who have transferred funds in the total amount of more than 800 million tenge, of which 23 persons were recognized as victims during the pre-trial investigation. In addition, during the trial, shareholders and co-investors in the amount of 30 persons (28 persons in the housing cooperative “Alash Orda-1”, two persons in the housing cooperative “AviatorPremium”) were additionally recognized as victims, and they filed civil claims,” the court’s press service reported.

It was established that part of the money invested by people was used by the developer for other purposes not related to the construction of houses.

The developer was found guilty of committing a crime under paragraph 2 of part 4 of Article 190 of the Criminal Code of the Republic of Kazakhstan, and was sentenced to imprisonment for a period of six years with deprivation of the right to occupy leadership positions in commercial and financial organizations for a period of 10 years.

The court’s verdict did not enter into legal force.