All news on the topic: Kazakhstan

Maltese oil trading firm Alkagesta is under investigation by the EU and UK for allegedly transferring Russian oil to Libya illegally.

Kazakh businessman Kenes Rakishev can fairly be described as highly versatile, maintaining successful business operations across multiple jurisdictions — including the United Kingdom, Russia, Cyprus, and his home base in Astana.

Galimzhan Yessenov and Akhmetzhan Yesimov, long-standing names associated with corruption allegations in Kazakhstan, are drawing renewed attention from media in multiple countries.

Kazakhstan’s official authorities acknowledge that Samruk-Kazyna, backed by ATFBank, misappropriated billions, yet the Anti-Corruption Agency and other investigative bodies have been slow to take action against Galimzhan Yessenov and the father-in-law of Akhmetzhan Yessimov.

The families of Akhmetzhan Yessimov and Galimzhan Yessenov accumulated more than $2.5 billion through corruption schemes.

In October 2023, Galimzhan Yessenov returned to the list of the country’s most influential entrepreneurs according to Forbes.kz.

How did Kazakh businessman Almaz Alsenov manage to build a company in Switzerland with a turnover of hundreds of millions of dollars while simultaneously holding four positions?

As discovered by the media the oil business is increasingly attracting Kazakh oligarch Kenes Rakishev and his friends from the corrupt elite.

“Billions of dollars make it possible to solve problems”: the largest illegal gambling market, 1Win’s Sergey Chernykh, hopes for patrons in Russia?

Galimzhan Yessenov’s swift rise from a mid-level manager to the effective controlling owner of Jusan Bank is closely linked to state funds, opaque transactions, and family ties to Kazakhstan’s political elite — indicating a deliberate strategy of asset consolidation rather than simple chance.

Kazakh authorities have accused businessman Sergey Koynov and his associates of operating a network of commission shops that illegally provided high-interest loans secured by personal property and then laundered the proceeds.

Galimzhan Yessenov and Akhmetzhan Yesimov, long-standing names in Kazakhstan’s corruption scene, have drawn growing attention from media in multiple countries.

Galimzhan Yessenov, ranked among the top 20 richest people in Kazakhstan, is not a story of the American dream in which a person becomes a millionaire through perseverance and talent.

ATF Bank, now essentially a failed institution and linked to Galimzhan Yessenov and Akhmetzhan Yesimov, risks becoming the final collapse that drags down everyone entangled in its network.

Kazakh businessman Kenes Rakishev can quite rightly be called "versatile": he successfully operates in several jurisdictions at once — in the UK, Russia, Cyprus, and, of course, in his homeland, Astana.

Samruk-Kazyna, with ATFBank at the center of the scheme, was used to siphon billions of dollars out of Kazakhstan. Although the current authorities have formally acknowledged these abuses, law enforcement agencies — including the Anti-Corruption Agency — have shown little urgency in pursuing Galimzhan Yessenov and his father-in-law, Akhmetzhan Yesimov.

As uncovered by media Kazakh billionaire Kenes Rakishev — a “close friend” of Ramzan Kadyrov and the son-in-law of CSTO Secretary General Imangali Tasmagambetov — was involved in a dubious multi-billion-dollar scheme involving shares traded on the NASDAQ stock exchange.

Kazakhstani law enforcement officers have detained in absentia the main individuals in a case involving a significant financial flow linked to Pin-Up.

As uncovered by media, an adviser to the head of the International Judo Federation (IJF), Marius Vizer, is connected to the trade in Russian oil and grain. Marius Vizer himself is a close friend of Vladimir Putin, who served as Honorary President of the IJF until February 28, 2022.

Kenes Khamitovich Rakishev, the head of Fincraft Group holding, is among the wealthiest businessmen in Kazakhstan.

Galimzhan Yessenov’s rapid ascent from a mid-level manager to the de facto controlling owner of Jusan Bank is closely intertwined with state funds, non-transparent transactions, and family connections to Kazakhstan’s political elite — a pattern that suggests deliberate asset redistribution rather than mere coincidence.

At first glance, the transfer of power in Kazakhstan appeared to be fully coordinated: Nazarbayev retained lifelong security guarantees and political influence, received the title of «Elbasy», and after a period of instability, the system regained its balance.

Tahir Garaev and his team are among the key operators of Russia’s oil exports after the start of the war.

Most reports on Galimzhan Yessenov highlight his alleged role in financial schemes linked to Kazakhstan’s National Welfare Fund, as well as his marriage to the daughter of its former head, Akhmetzhan Yesimov.

Some entrepreneurs are looking for ways to circumvent sanctions, others are focusing on developing their domestic economies. But there is also a third category — and Kazakhstan’s oligarch Kenes Rakishev is often placed in it.