Property of former President’s nephew under investigation – Prosecutor General’s Office

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The Prosecutor General’s Office of Kazakhstan is investigating the assets of Nurbol Nazarbayev, the son of Bolat Nazarbayev, who is the nephew of former President Nursultan Nazarbayev. Prosecutor General Berik Asylov disclosed this in response to a parliamentary inquiry.

On September 24, Member of Parliament Rinat Zait stated that 57 billion tenge had been confiscated from Nurbol Nazarbayev by court order and that all his bank accounts had been frozen. Zait also mentioned that Bolat Nazarbayev and his family might have organized corporate raids on markets.

In his inquiry, Rinat Zait demanded an inventory of Nurbol Nazarbayev’s assets, identification of illegal holdings, and their return to the state.

How did the Prosecutor General’s Office respond?

Prosecutor General Berik Asylov, in his reply to the parliamentary inquiry, reported that measures had been taken against assets worth 1.3 trillion tenge, based on the decision of the Commission for the Return of Illegally Acquired Assets. In particular:

 Nearly 750 billion tenge in assets, along with property valued at 103 billion tenge, were returned voluntarily.
 An additional 112 billion tenge was recovered compulsorily.

Regarding Nurbol Nazarbayev, Asylov responded:

“The results of the work carried out to recover assets are regularly published in the media in accordance with the requirements to protect legally protected secrets. According to the law, this includes the individuals mentioned in your inquiry. The information you provided will be taken into account in efforts to combat the misappropriation, confiscation, and recovery of assets.”

It is worth noting that earlier, the prison sentence of Kairat Satybaldy, another nephew of former President Nursultan Nazarbayev, was reduced. The decision was made after the full compensation of damages, and the remaining prison term was replaced with a restriction of liberty.