Kazakhstan Recovers $2 Billion in Illegally Withdrawn Assets
The Asset Recovery Committee of Kazakhstan's Prosecutor General’s Office has secured the return of assets worth 1 trillion tenge ($1.9 billion) through over 50 voluntary agreements, Chair Nurdaulet Suindikov reported on Dec. 4.
“In addition to assessments, independent expertise, and audits, assets must be ready for transfer. This audit needs to be examined, and any excess earnings should be calculated. In other words, the actual transfer of assets does not happen all at once when the contract is signed; rather, it takes some time,” said Suindikov.
He emphasized that the committee welcomes the voluntary return of assets.
“This line has been followed by the vast majority of subjects that fall under the legal purview of our work. A forced return is the second line. We file a claim for so-called unexplained wealth in court if an asset is found during the committee’s analytical verification activities whose legality raises reasonable suspicions,” said Suindikov.
In accordance with asset recovery laws, the identities of individuals and companies returning funds remain confidential. Recovered assets have been directed towards social projects, including building a kindergarten for children with special needs in Aktobe and completing a hospital complex in Ridder.
In November, Kazakhstan and Switzerland signed a memorandum on mutual legal assistance in criminal cases and asset recovery, enhancing international cooperation in reclaiming state funds.
