One billion tenge for innovative pasta: embezzlement scheme involving Science Fund uncovered
Tengrinews.kz — An investigation has been completed in Almaty into the alleged embezzlement of funds allocated for the production of innovative pasta products. The company received more than one billion tenge from the Science Fund for four projects, but investigators found that the purchased equipment was incapable of producing the products specified in the projects, according to the Financial Monitoring Agency.
One billion tenge for innovative pasta
According to the FMA, in 2023–2024, Bal halal LLP received 1.15 billion tenge from the Science Fund JSC under four projects aimed at commercializing scientific developments.
The projects involved producing innovative pasta products from plant-based raw materials, as well as flour enriched with micronutrients.
The allocated funds were intended for purchasing equipment, preparing production facilities, acquiring raw materials and components, and carrying out installation and repair work. The financing was also supposed to ensure the launch of finished-product manufacturing.
However, investigative tests showed that the purchased equipment could not produce the products specified in the projects.
How more than 736 million tenge was withdrawn
According to investigators, SMART 15 LLP, registered to affiliated individuals, was used to siphon off the money. Under the guise of payments for equipment and other services, 736.4 million tenge was transferred to the company’s accounts.
The FMA said other entrepreneurs and companies were also involved in the scheme, including Fabrika Reklamy Shymkent LLP, Jana tan LLP and Sisters Brand KZ individual enterprise.
“At the same time, oversight of the projects was largely formal. Monitoring reports were prepared without actual visits to production facilities or verification of completed work. The documents were prepared by employees of Bal halal LLP and signed by members of the monitoring groups, creating the appearance of proper oversight over the use of state funds,” the FMA said.
According to investigators, after the money was cashed out, the director of Bal halal LLP deposited 88.5 million tenge in cash into the company’s bank accounts in an effort to legalize the funds, presenting the money as her own contribution to co-financing the projects.
As a result, the total damage amounted to 945 million tenge.
The company director was placed in custody. With court authorization, her property worth 830 million tenge was seized. The assets include five land plots, four vehicles, an apartment in Astana, commercial premises and jewelry.
No further information may be disclosed under Article 201 of Kazakhstan’s Criminal Procedure Code.