Almaty, 27 October. The Almaty department of the Financial Monitoring Agency is investigating the creation of the R.O.I. financial pyramid, which operated under the guise of a consumer cooperative; 275 people have been recognised as victims, with losses of 217 million tenge, the agency said.
People were drawn into programmes to buy cars and property: the cooperative signed share-accumulation contracts and took contributions. According to investigators, new members' money went to pay earlier members rather than into any business that could have paid everyone. The organisers moved 94 million tenge out of the cooperative to affiliated accounts, including that of the sole trader Kausar, disguised as payment for consulting services.
After court disputes began in 2022, six new cooperatives were set up in Almaty: ShynSaulet, Berekeli Shanyrak, Aya-Aru, Jasmin, USCoop and Baiterek. According to the agency, they were controlled by the head of R.O.I. and used to channel money around the main cooperative's bank accounts, which had been frozen by private bailiffs.
What it means: The scheme existed for years as a legal cooperative and survived lawsuits by moving money through new look-alike cooperatives.
What we know now: The organiser has been remanded in custody for two months; with court approval, three cars, 25 flats and bank accounts have been seized. The investigation continues, and the agency is disclosing nothing further: under Article 201 of the Criminal Procedure Code this is covered by the secrecy of the investigation. The agency's call centre number is 1458.
Background: Members' court disputes with R.O.I. began in 2022, when private bailiffs froze the cooperative's bank accounts; according to investigators, the new cooperatives were needed to take money in around those freezes.
