Nazarbayev's nephew planning to return assets worth 50 bln tenge to govt - Kazakh Anti-Corruption Agency

ASTANA. April 11 (Interfax) - Kairat Satybaldy, nephew of former Kazakh President Nursultan Nazarbayev, is planning to return illegally obtained assets worth another 50 billion tenge to the government as part of his plea deal, the Kazakh Anti-Corruption Agency said on Thursday.

"On April 11, a court hearing Satybaldy's case upheld an investigator's motion and gave more time for the conclusion of a plea deal due to the need for finalizing procedures in the return of illegally acquired assets. In particular, the return of other assets of the defendant worth over 50 billion tenge to the government is being considered," the agency said. The current exchange rate is 447.15 tenge to the dollar.

As reported, the defense applied for a plea deal, which includes the return of illegally acquired assets, during the preliminary hearing. Satybaldy pleaded guilty as charged and helped identify the illegally acquired assets.

At the stage of preliminary investigation, the Anti-Corruption Agency facilitated the return of assets and cash of the defendant and affiliated persons totaling over 732 billion tenge (administrative buildings, exclusive jewelry, deluxe homes, apartments and vehicles, shares and stakes in companies, railroad lines and cash, including that foreign) to the government.

It was also reported that an investigation into Satybaldy's tax evasion was ongoing.

Satybaldy was detained in mid-March 2022 on suspicion of abuse of office and major defrauding of Kazakhtelecom and Transport Service Center. It was reported later that Satybaldy and his former wife Gulmira were suspected of hostile takeover of a business.

In September 2022, Baikonur District Court No. 2 in Astana found Satybaldy guilty of embezzlement and sentenced him to six years in a general penitentiary and confiscation of assets. Additionally, he was prohibited from holding civil service positions for ten years. The court approved an appeal to the Kazakh president for stripping Satybaldy of the rank of a Kazakh national security major general and the Kurmet and Parasat state awards.

Satybaldy applied for being released on parole in December 2023, but the court declined his request, saying "the convict's behavior is not perfect, which is proven by a reprimand and a dress code violation."