The Almaty Department of the Agency for Financial Monitoring is investigating the creation and management of the “R.O.I.” financial pyramid scheme, which operated under the guise of a consumer cooperative.
People were invited to join programs to acquire movable and immovable property, sign share-accumulation agreements and make cash contributions. According to investigators, money from new participants was used to meet obligations to earlier members rather than fund genuine business activity.
A total of 275 people have been recognized as victims. Their combined losses are reported at 217 million tenge.
Investigators say the organizers transferred 94 million tenge from the cooperative to affiliated parties’ accounts, including those of the individual entrepreneur “Kәusar”, disguising the payments as fees for consulting services.
After court disputes began in 2022, six new consumer cooperatives were set up in Almaty: “ShynSaulet”, “Berekeli Shanyrak”, “Aya-Aru”, “Jasmin”, “USCoop” and “Baiterek”. Investigators say they were controlled by the head of “R.O.I.” and used to redirect incoming funds around the main cooperative’s bank accounts, which had been frozen by private court enforcement officers.
A court authorized the seizure of three cars, 25 apartments and bank accounts. The alleged organizer was remanded in custody for two months. The investigation is ongoing.
