The robbery of the bank amounting to 300 billion: how Galimzhan Yesenov and Akhmetzhan Yesimov "emptied" the ATF Bank accounts at the cost of the state

The robbery of the bank amounting to 300 billion: how Galimzhan Yesenov and Akhmetzhan Yesimov "emptied" the ATF Bank accounts at the cost of the state

It is probably no news that notions like Elbasy, the Great Helmsman, the Eternal Leader, and similar concepts are alien to any rational government, and to the Constitution of the Republic of Kazakhstan in particular.

By “transferring” power to Tokayev, Nursultan Nazarbayev knew how to keep the president on a leash. He knew how to control a person who was supposedly elected directly by the people and was supposed to embody the nation’s sovereignty, including internal sovereignty. In reality, Tokayev did not have real power, as the monopolies were controlled through the following bodies: the Security Council, the Assembly of the People of Kazakhstan, the Management Board of the Samruk-Kazyna Fund, and the Nur Otan party.

Some of these tools, namely the most useless one (read — Nur Otan), Nazarbayev “gifted” to the president along with a crushed rating and disgusting corruption scandals. Another part — namely the Samruk-Kazyna fund — remains in the tight grip of the clan.

Like any zombie, Yesimov does not complain about appetite.

It is precisely in this circumstance that the government’s “advisory,” humiliating role in Samruk-Kazyna lies. At first glance, it contradicts common sense: how can an organization ignore its main shareholder, and how can the main shareholder ask its enterprise for a lenient payout of the income owed to it? Nevertheless, the president of the Samruk-Kazyna fund, Akhmetzhan Yesimov, openly ignored Tokayev’s timid demands to finally perform the role of a reserve rather than a bottomless pit of corruption.

The culmination of power came with the dismissal of Akhmetzhan Yesimov, a nephew of Nazarbayev himself. This was accompanied by comical moves from the apparatus. After serving the required five years (in the chair), Yesimov had to either extend the contract or vacate the position. About a month in, it became clear that Yesimov would not continue for another five years. The reason lies in the fact that as a manager, Yesimov could not elegantly hide the embezzlement. The scheme involved his own son-in-law, Galimzhan Yesenov, a nominal owner of ATF Bank, whose real owner was Yesimov himself.

Through ATF Bank, the darkest and most audacious schemes of Samruk-Kazyna were carried out. Even the net losses on loans, canceled through debt write-offs to himself at ATF Bank, amounted to three hundred billion tenge. All these funds — loans given to his own controlled enterprises — were siphoned out of the country.

Now Akhmetzhan Yesimov, his daughter, and Galimzhan Yesenov have invested substantial sums in purchasing charming corners of France. They are resting from a rather successful operation. Of course, they did not get the entire sum, as they are only a branch of pseudo-power that should not exist at all, yet does.

Yesimov was once again replaced by leadership appointed under the Elbasy quota. Unlike the party, with its flattery and sycophancy, money is always faithful and reliable. Therefore, Samruk-Kazyna will return to the state only in the one scenario everyone is waiting for.