Hounding a Businessman out of the Country?

A new criminal case may be opened against Kazakh businessmen Margulan Seysembay. This assumption has been made by the businessman himself in his post on Facebook. He believes that the new turn of the law-enforcers’ activity has to do with the talk he has recently given at the Forum for Strategic Initiatives.

In his Facebook post, Margulan Seysembay said that, based on the information received, the Kazakh Public Prosecution Office had dug up the old cases against Alliance Bank and now, in his opinion, would try to concoct new accusations. 

“My friends, I have bad news for you.

On December 24, 2018, due to my talk at the Forum for Strategic Initiatives and my civil activities, the Public Prosecution Office reopened the old cases related to Alliance Bank. Despite the fact that these cases had already been investigated two or three times and the statute of limitation period had expired on many claims, the investigation is trying to concoct a new case based on the old materials. I do not consider myself guilty of anything at all, but, if the prosecution thinks overwise, they can find guilty whomever they want, as you know. They have begun questioning the former employees of Alliance bank and of the borrowing companies.

In view of this, I am cutting bank on my civil activities.

First, I am ending my morning business talks with young people in First President’s Park. I am leaving the Business lifehacker group.

Second, I am disaffiliating from the Nomad Explorer organizing committee. All the operations related to the “Legends of the South” expedition are to be carried out by the organizing committee.

Third, I am exiting the “2-ya molodost” (“2-nd spring of life”) group.

Fourth, I am cancelling my flashmob “Brown Poopy Chair”.

Fifths, I am transferring Alma Museum and Almaly Zhumak foundation to independent balance-sheet.

Sixth, I am transferring Qalam foundation for public-school teachers support to independent balance-sheet.

Seventh, I am no longer engaging in discussing and solving the problem of the country’s ‘restroomization’.

Eighth, I am no longer giving business lectures for young people.

Ninth, I am no longer giving interviews to the media.

Tenth, I am no longer initiating any kind of new initiatives.

I will still continue to root for my county and do everything I can for its successful development.

Respectfully yours, Margulan”.

Note that this is not the first time that the businessman is experiencing such problems. A year ago, Margulan Seysembay was even forced to leave Kazakhstan. He came back having received certain security guarantees. 

We will recall that the case against Alliance Bank shareholders was opened in the fall of 2009. The former top-managers of the bank were accused of embezzling more than $1.1 bln. Later, the case was put on hold and the businessman returned to the country. In the recent years, he has been actively investing, among other things, in education. According to the Forbes Kazakhstan rating, in 2017, he made the list of the 50 most influential businessmen of the country.

Below is a videorecording of Margulan Seysembay’s talk at the Forum for Strategic Initiatives.

Videorecording from Margulan Seysembay’s Facebook page  


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