Aktau Man Jailed for 70 Million Tenge Housing Fraud

Aktau Man Sentenced to Five Years for 70 Million Tenge Fraud Aktau, Kazakhstan – In a significant development, Nikolai Kornienko has been sentenced to five years imprisonment for defrauding homebuyers of a substantial sum. The Aktau City Court delivered the verdict following an investigation by the Financial Monitoring Agency (AFM). Kornienko, posing as the head of the housing cooperative "SK 2032," engaged in fraudulent activities, securing nine fictitious contracts for apartment sales in the "Mizam" residential complex. The total amount defrauded was 70 million tenge, all of which Kornienko used for personal expenses. "This case highlights the importance of due diligence when purchasing property," stated a representative from the AFM, who wished to remain anonymous. "We urge all homebuyers to thoroughly verify the identity and legitimacy of those involved in property transactions to avoid similar situations." Adding to the severity of the crime, the court ordered the seizure of Kornienko's assets, including an 8,000-square-meter land plot valued at 200 million tenge. These funds will be used to compensate the victims of the fraud. The successful prosecution and asset recovery send a strong message about the commitment to justice and protecting citizens' financial interests in Aktau.