Consumer cooperatives
Exploring the risks of participating in preferential schemes for purchasing housing and cars.
Presentation delivered as part of the seminar "Countering Financial Fraud," organized by Kazatomprom jointly with FinGramota.kz.
According to court materials, in the case involving the consumer cooperatives "Amanat Home" and "Amanat Halyq," the total amount of funds received from participants reached 10,637,390,395 tenge.
Investigators believe that people were offered an "alternative to a mortgage," but the funds were not used to purchase housing and were instead redistributed within the scheme.
The case involves thousands of participants, and a verdict has already been issued in one of the episodes.
The Department of Economic Investigations of the Almaty Region has officially announced the launch of an investigation into the consumer cooperative "Amanat Drive."
The case concerns possible signs of a pyramid scheme and the laundering of funds obtained through criminal activity.
The materials reference Articles 217 and 218 of the Criminal Code of the Republic of Kazakhstan.
Previously, participants and supporters actively promoted the project on social media, but it is now under review by law enforcement authorities.
Are housing and consumer cooperatives a common front for fraud and pyramid schemes?
How cooperatives work when people lose money.
How cooperatives work when people lose money.
