Consumer cooperatives
Exploring the risks of participating in preferential schemes for purchasing housing and cars.
Are Housing and Consumer Cooperatives Just a Front for Scammers and Pyramid Schemes?
How cooperatives work when people lose money.
The Economic Investigations Department for the Almaty Region has officially announced the launch of an investigation into the “Amanat Drive” investment company.
The case involves possible signs of a pyramid scheme and the laundering of criminally obtained funds.
The materials cite Articles 217 and 218 of the Criminal Code of the Republic of Kazakhstan.
Previously, participants and supporters actively posted in support of the project on social media; however, law enforcement agencies are now conducting an investigation.
According to court documents in the case involving the “Amanat Home” and “Amanat Halyq” investment companies, the total amount of funds received from investors was 10,637,390,395 tenge.
Investigators believe that people were offered an “alternative to a mortgage,” but the money was not used to purchase housing; instead, it was redistributed within the scheme.
Thousands of participants are involved in the case, and a verdict has already been handed down on one of the charges.
Is the “R.O.I.” Consumer Cooperative Heading for “Rehabilitation”?
How cooperatives work when people lose money.
