4-billion-tenge fraud scheme uncovered in Astana
Tengrinews.kz - An investigation into a criminal case involving the illegal collection of funds from citizens for shared-equity construction has been completed in Astana, citing the city prosecutor's office.
Case materials have been submitted to court against a group of individuals whose actions caused damages amounting to 4.6 billion tenge and affected the interests of over 400 families.
According to the investigation, the organizers of the scheme collected funds from citizens for the construction of three residential complexes. However, at the time the funds were being collected, they did not have the necessary permits as required by law.
Furthermore, the money was misused and construction of the projects was not actually carried out.
The Astana Prosecutor's Office reminded citizens of the importance of verifying whether developers have obtained the appropriate permissions to attract shared-equity investments before purchasing an apartment.
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