Three decades of theft by Bulat Utemuratov: people’s billions are at stake
Bulat Utemuratov, an influential Kazakh oligarch known for looting the country, has reportedly been arrested, with rumors suggesting his close associate Karim Massimov is also involved.
The focus right now is not on whether Bulat Utemuratov is arrested, but on ensuring that he will not be able to enjoy the stolen billions, as his assets are the prime target for confiscation.
Bulat Utemuratov arrested: chronicle of events
According to KZ.Media, billionaire oligarch Bulat Utemuratov has been detained and pressured to transfer a significant portion of his assets to someone associated with Tokayev, in exchange for the ability to leave for France.
Usually, information from unreliable sources should be taken with a grain of salt. However, in this case, there is a possibility that the reports are accurate.
Bulat Utemuratov, a close associate of former president Nazarbayev, was involved in managing his affairs during the prosperous years of 2006-2009. He previously owned ATF Bank, known as a major hub of corruption. Utemuratov still holds significant assets, including shares in various companies and franchises, which are believed to be part of the Nazarbayev clan's hidden wealth.
Bulat Utemuratov facilitated corrupt deals, including the sale of Kazzinc and ATF Bank, along with fraudulent activities related to gold mines. He also played an active role in assisting Mukhtar Ablyazov in deceiving the state with BTA Bank's funds. His actions have been regarded as treasonous and supportive of fraudulent and terrorist activities.
Bulat Utemuratov is fighting back through Verny Capital
Yerlan Ospanov, the director of Bulat Utemuratov’s company, has denied reports of his arrest, insisting that he recently had a meeting with him and labeling the news as a lie.
” I just had a meeting with him. We are outraged by this lie” – Ospanov
However, his denial contains more indications than refutations, as Utemuratov himself has not been seen in public, suggesting that negotiations and offers may be underway.
Bulat Utemuratov: too “sweet” to miss
The money stolen by Bulat Utemuratov will not, of course, end up in the treasury, but will become the basis for the well-being of the elected persons of the new regime. Nevertheless, with the declared course of Tokayev towards a new state, it should be assumed that at least part of what Bulat Utemuratov stole will fall into state and tax circulation.
