Nazarbayev's nephew admits guilt in case of money laundering

# 01 April 2024 15:41 (UTC +04:00)

The main trial against Kazakhstan's First President Nursultan Nazarbayev's nephew, businessman Kairat Satybaldy has begun in Astana, APA reports citing AKIpress.

He is accused of legalization of funds obtained from crime. According to the investigation, the businessman used such funds to purchase property abroad and placed money in bank accounts in Kazakhstan and abroad.

At the court hearing, Kairat Satybaldy admitted the charges. He also agreed with the amount of funds specified in the indictment.

Lawyer Ashurbek Ashurbekov noted the petition filed by the defense to conclude a procedural transaction and voluntary return of illegally acquired assets. According to him, they contacted the Prosecutor General's Office.

"The procedural agreement to plead guilty and return illegally acquired assets is currently under consideration," said state prosecutor Eldar Nurmakhanov.

The judge, taking into account that this issue is at the consideration stage, decided to postpone the court hearing for an indefinite period.

It was earlier reported that Satybaldy voluntarily returned many assets to the state, including a share in the national company Kazakhtelecom, companies in the railway and telecommunications sectors, and jewelry worth more than $200 million was also seized from him.