Aggrieved savers of "Garante 24 Lombard" and "Vidny Loan" call for a transparent probe into their deceptions
In Kazakhstan, the ongoing investigation into the financial pyramid schemes "Guarant 24 Lombar" and "Profitable Loan" continues to unfold, with a total estimated damage to investors reaching 22 billion tenge.
Despite the efforts of Interpol, five masterminds of the financial pyramid remain at large, with the international agency joining the manhunt for their capture. The investigation of the "Guarant 24 Lombar" criminal case is ongoing and is being handled by the investigative department in Atyrau.
Nurlan Ashimov, a 46-year-old Kazakhstani, is among the victims of the scam, losing 10 million tenge. He shared that he sold his apartment with the funds, intending to buy a new home. Tragically, his hopes were dashed by the collapse of the pyramid.
Three lomбарды in Almaty had their regional directors arrested and detained in the city. However, the whereabouts of the main culprits remain unknown.
The profitability of financial pyramids is formed by attracting new investors, a tactic that was successfully employed in the case of "Guarant 24 Lombar". Intensive advertising featuring domestic pop stars contributed to the large number of investors in the scam.
Dmitry Akmaev, the main specialist of the Department of the Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan, concluded that rewards higher than market dictates are technically unfeasible and carry significant risks.
The exact number of people affected by the scam is unknown, but over 18,000 Kazakhs have filed complaints with the police. Despite the efforts of law enforcement agencies, only 51 people are currently under investigation in connection with the scam.
It is worth noting that unlike the stock market, where investors are warned about potential risks, financial pyramids guarantee returns. However, the maximum penalty for unethical acts promoting financial pyramids is a fine, which is relatively small compared to the received fee.
This lack of substantial penalties has led to a concerning trend, with singers, actors, and bloggers participating in questionable projects without facing significant penalties.
For the most accurate and up-to-date details on these cases, checking official statements or news reports from Kazakhstan's government, the National Bank of Kazakhstan, or relevant law enforcement agencies would be necessary. The search results do not provide specific or updated information on these scams or any official statements on related law enforcement actions, individuals sought, or damage estimations.
As the investigation continues, the flow of trusting citizens eventually runs out, causing financial pyramids to cease to exist. It is a harsh lesson for those who have been scammed, but a necessary reminder for all to be vigilant and cautious when investing their hard-earned money.
The business and finance sectors, along with general-news outlets, continue to report on the ongoing investigation of the looming financial pyramid schemes "Guarant 24 Lombar" and "Profitable Loan" in Kazakhstan, with the crimes and justice department being actively involved. The manhunt for the five masterminds of the pyramid schemes, despite Interpol's efforts, remains an open case.
The financial pyramid schemes have seemingly exploited business strategies, employing tactics such as intensive advertising featuring domestic pop stars to attract new investors, a strategy that was effectively used in the case of "Guarant 24 Lombar".
