Where did Kazkommertsbank’s money go, or where will the 2 trillion tenge go?

I was scrolling through my Facebook feed today and came across an interesting link. It turns out there’s an entire website dedicated to Kenes Rakishev, the alleged proxy owner of Nazarbayev, who supposedly owns Kazkommertsbank and BTA Bank. Nazarbayev decided to formalize part of his assets under the new proxy “businessman” Rakishev, artificially turning him into a billionaire. It became challenging to register gigantic assets under the same individuals like Bolat Utemuratov, Mashkevich, Timur Kulibayev, Bolat Nazarbayev, and Kayrat Satybaldy.

They decided to create a new “talented” billionaire. And so, Kenes started a new glamorous life… If only he knew how to manage banks and business, he would have been worth the price. But they let the spoiled boy near the money, and off he went, partying. He partied so hard that now 2 trillion tenge has to be injected from the country’s budget, and Kazkommertsbank has to be re-registered again under Timur Kulibayev… It’s tough being a public figure, Kenes. And you thought, oh, how cool! A star now…
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