Pyramid schemes
Projects recognized as financial pyramid schemes by court judgments in Kazakhstan.
We recorded a podcast with public activist Evgenia Ganovskaya.
We discussed the HAS Holding case, the situation surrounding the project, questions from those affected, and the latest developments in the case.
It was an open and informative conversation about what is happening now and what may come next.
Watch the full podcast.
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In 2022–2023, the HAS pyramid scheme operated in Kazakhstan, promising investors returns of up to 70%.
Initially, 376 people were recognized as victims, with losses exceeding 2 billion tenge. Later, another 139 victims were identified. This brought the total number of victims to 515, with total losses reaching around 3 billion tenge.
Open sources and reports from victims also mention a possible connection between people associated with HAS and WYP.KZ. However, there is currently no official confirmation of any family relationship between the creators of the two projects.
According to the Financial Monitoring Agency of Kazakhstan, a court in the Kyzylorda Region has sentenced the head of a structural subdivision of the WarnerBros financial pyramid scheme. Participants were offered VIP packages ranging from 10,000 to 11,000,000 tenge with promises of high daily returns. The court found the defendant guilty, sentenced her to 5 years of imprisonment, and ordered the seizure of crypto assets worth 3 million USDT. In this video, we examine how the scheme operated and highlight key warning signs of financial pyramids.
The Financial Monitoring Agency has reported the dismantling of the financial pyramid scheme "CVK". As part of the investigation, cryptocurrency assets worth 474,000 US dollars were frozen. Individuals affected by the project are advised to contact the territorial department of the Financial Monitoring Agency at their place of residence.
Investors in "CVK International E-Commerce Ltd." are strongly advised to exercise caution. Based on the available indicators, the project appears to be in the final stage of attracting funds. Payment of the so-called "management fee" is not recommended.
The project's website displays signs of a phishing resource, creating a risk that personal data may be compromised. Investors should therefore be prepared for possible calls from unknown individuals and offers to recover funds previously invested in CVK.
If you have suffered losses, it is recommended that you file a statement with the Department of Economic Investigations at your place of residence or join a collective complaint to the Agency of the Republic of Kazakhstan for Financial Monitoring (AFM RK). For coordination, contact us via WhatsApp: 8 707 477 17 17.
The Almaty Department of the Agency of the Republic of Kazakhstan for Financial Monitoring (AFM RK) has completed its investigation into the creation and management of the "Boxy Wealth" pyramid scheme. The total damage is estimated at 110 million tenge.
A sentence of six years' imprisonment with confiscation of property for organizing a pyramid scheme.
What should victims of the “Boxy Wealth” pyramid scheme do?
We asked Meruert Erkinqyzy, a representative of the Department of Economic Investigations for the Almaty Region, about this.
The Agency of the Republic of Kazakhstan for Financial Monitoring (AFM) in Almaty has completed an investigation into the Warner Bros financial pyramid scheme, in which participants were offered earnings allegedly for watching movie trailers and receiving income in USDT.
The court found the organizer guilty of creating and managing a financial pyramid scheme.
Cryptocurrency assets worth 3.8 million USDT were seized, the organizer was sentenced to five years of imprisonment, and the civil claims of 40 victims will be compensated using the arrested crypto assets.
