Depositors who were defrauded by "Garante 24 Lombard" and "Vignedny Loan" call for a thorough, open examination of the situation
In the heart of Kazakhstan's bustling city, Almaty, three lomбарda (loan companies) operate, offering guaranteed returns that are unlike the volatile nature of the stock market. However, two financial pyramid schemes, Guarant 24 Lombar and Profitable Loan, have left a trail of devastation, with over 18,000 Kazakhs filing complaints with the police.
The criminal case against these schemes is complete, but the investigation is ongoing, being handled by the investigative department in Aктоbe. Despite the efforts of the authorities, five masterminds of the financial pyramid are still at large, with Interpol joining the hunt.
The maximum penalty for promoting unethical financial schemes is a fine, which is relatively small compared to the earnings received. This leniency, coupled with the allure of guaranteed returns, has led many to invest their savings, including Nurlan Ashimov, a 46-year-old Kazakhstani who lost 10 million tenge (approximately $22,500). Ashimov's initial investment was intended for buying a home, but he sold his apartment to invest in the scam.
The involvement of local celebrities in aggressive advertising for these schemes is a contributing factor to the large number of investors. The rewards offered are technically unfeasible and carry significant risks, a fact emphasized by Dmitry Akmaev, the main specialist of the Department of the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan. Akmaev stated that financial pyramid returns are formed by attracting new investors.
The total damage to investors is estimated at 22 billion tenge (approximately $47.5 million). Scammed investors of "Guarant 24 Lombar" and "Profitable Loan" held another meeting to discuss their losses and seek justice.
As the investigation continues, it is crucial for potential investors to be aware of the risks associated with financial pyramid schemes. The lack of explicit warnings and the allure of guaranteed returns can be misleading, leading to significant financial losses.
For the latest updates on these specific scams, it is advisable to consult local Kazakh law enforcement or financial regulatory authorities’ official statements, trusted news outlets covering Kazakhstan’s financial crime investigations, or court records if publicized.
- In the midst of Kazakhstan's business sector, awareness about the risks associated with unethical financial schemes, such as financial pyramids, should be reinforced, given the recent cases of Guarant 24 Lombar and Profitable Loan, which were handled by the investigative department in Aктоbe, with five masterminds still at large.
- Amidst the general-news of Kazakhstan, potential investors must be cautious of the allure of guaranteed returns offered by loan companies, as these rewards are often technically unfeasible and carry significant risks, as evidenced by the devastating effects experienced by over 18,000 Kazakhs who have filed complaints against the aforementioned schemes.
