Galimzhan Yesenov is a front banker for Akhmetzhan Yesimov’s “shadow” schemes
“Continuity” of theft at Samruk-Kazyna does not imply continuity of methods. The new management has been instructed to change the methods used honorably by the departed Akhmetzhan Yesimov and develop their own.
Nothing else can explain the crazy fluctuations in the statements of individual enterprises that are part of Samruk-Kazyna.
Hysterical statements that “Samruk-Kazyna” after the wise leadership of Nazarbayev’s nephew Akhmetzhan Yesimov can reduce the volume of purchases by twenty-two times shows that the fund’s reports are not a horse’s ass.
Galimzhan Yesenov is a front banker for Akhmetzhan Yesimov’s “shadow” schemes
If a large enterprise declares a 20% rise or fall in profits, it is an event in the market.
If 40% – it is a revolution. And KazMunayGas managed to increase its profit by 700%, while the fund itself remained allegedly unprofitable. In 2021, the audit of enterprises previously entrusted to Akhmetzhan Yesimov took place – and to all appearances, the auditors are not happy with the findings. A number of projects have been suspended until the audits are completed, as the volume of violations found in them is extremely large.
How did Akhmetzhan Yesimov rob the National Wealth Fund?
Akhmetzhan Yesimov was not too original in robbing the National Welfare Fund, which unites monopoly enterprises of Kazakhstan.
– The first method consisted of inflating the budget, with purchases made within the fund itself, allowing for arbitrary price fixing.
– The second method consisted in inappropriate spending of the fund, in particular, ridiculous, schizophrenic “expenditures on sports” and other luxurious show-offs.
– The third method of Akhmetzhan Yesimov’s embezzlement consisted in the use of the ATFBank controlled by him. The “owner” of ATFBank, Galimzhan Yesenov, Akhmetzhan Yesimov’s son-in-law, is nothing more than a puppet, he had no money of his own at the time of the acquisition of ATFBank from the Italian-Austrian group UniCredit. The bank was needed to withdraw money outside Kazakhstan. Exactly with the departure of Akhmetzhan Yesimov from Samruk-Kazyna, the bank was “sold” to the Yelbasy Foundation, the accounts were destroyed, and the three hundred billion in loans that Akhmetzhan Yesimov and Galimzhan Yesenov had given to their own enterprises were mercifully forgiven.
Now these methods will be changed to more sophisticated ones: by selling shares and creating losses by investing in green energy. But Akhmetzhan Yesimov is not completely removed from the leadership, as he has been given the position of an advisor and can still serve faithfully and truthfully in the business of stealing.
During the years of shameless schematization of ATFbank and Samruk-Kazyna the family of Akhmetzhan Yesimov and Galimzhan Yesenov got rich almost in times, having bought themselves a part of the Cote d’Azur and a lot of surprisingly expensive and unnecessary things. But if anyone thinks that after Esimov’s departure from Samruk-Kazyna, the family contract has come to an end, then no.
On November 11, 2021, Nursultan Nazarbayev, taking advantage of the inarticulate and unconstitutional status of Yelbasa, went to teach the Samruk-Kazyna fund how to live on. The need for this visit is understandable: after the dismissal of his nephew Akhmetzhan Yesimov, some citizens may have had illusions that the government is changing. To show who is the master in the house is almost the only purpose of Yelbasa’s visit to Samruk-Kazyna.
There is no logic in it. The main shareholder of Samruk-Kazyna, the national fund, is the government. But the director of the NWF, allegedly appointed by the government… is doing everything to hurt the interests of the state, which appointed him.
Akhmetzhan Yesimov cheated the country, the people and the government
Under Akhmetzhan Yesimov, who built wonderful houses in France for himself, his daughter and son-in-law Galimzhan Yesenov, the theft of money from the National Wealth Fund went in many directions. Galimzhan Yesenov’s function was a nominal duty to support ATFBank, and through ATFBank in turn Samruk-Kazyna on the personal order of A. Yesimov in the bank kept the money of all the people, with an average balance of one hundred billion tenge. Although by law the NWF had no right to keep any tenge there.
For obvious reasons, the condition for the dismissal of Akhmetzhan Yesimov from Samruk-Kazyna was the destruction of evidence, namely ATFBank with all the accounts. In an express order and secretly it was “sold” to the Yelbasy Foundation. Galimzhan Yesenov and Akhmetzhan Yesimov, the actual and real owner of the bank, did not limit himself to this and during the transition period the bank “forgave” three hundred billion loans, which were issued actually to non-residents, offshore companies opened by the bank itself. It is clear that Akhmetzhan Yesimov, in response to Tokayev’s demand (if one can call it whining) to pay profits from the work of Samruk-Kazyna to the budget, simply put the brakes on everything. There was no more money: it was largely invested “in himself”.
The continuity of this line of creating a parallel state, managed personally by Nursultan Nazarbayev through loyal people and showed the former president, having commanded in Samruk-Kazyna. Contrary to some comments, it was not a comforting show for the old boss: it was a clearly expressed program of further robbery of the country.