The grandson and son-in-law of the first president of Kazakhstan, as well as the head of the National Security Committee (KNB), have unregistered real estate in Dubai.
This publication Hetq became aware of the data on the owners of Dubai real estate, collected by OCCRP and C4ADS. According to the laws of Kazakhstan, Dubai is an offshore zone in which the property of Kazakhstanis must be subject to verification.
The grandson of the ex-President of Kazakhstan Nursultan Nazarbayev Nurali Aliyev, Nazarbayev’s son-in-law Timur Kulibayev and the head of the KNB Karim Masimov purchased the property in 2014–2015.
As follows from the registration data, Aliyev owns three residences in the Jumeirah Beach Residence microdistrict on the Persian Gulf coast and another one in the elite yacht marina Marina in Dubai.
Massimov — apartments in Dubai’s Executive Towers complex and apartments in the Dubai International City area, popular among expats.
The apartments of the billionaire and son-in-law of Nursultan Nazarbayev Timur Kulibayev are located on one of the islands of the artificial archipelago “Palm Islands” (or Palm Jumeirah). In this area there are expensive private villas with their own access to the water.
These are not the first real estate scandals for Nazarbayev’s relatives
Nurali Aliyev and Timur Kulibayev have previously had problems buying expensive real estate abroad. In 2015, the British newspaper The Independent reported that Aliyev and members of his family may have owned several properties near London’s Hyde Park, valued at £147 million. OCCRP also found out that he was the owner of two companies registered in the British Virgin Islands, and through them he bought luxury yachts.
In 2009, the British newspaper Telegraph reported that Timur Kulibayev bought the mansion from a member of the royal family in 2007 for £15 million. The publication found that this price is 25% higher than the market price. In 2010, he was prosecuted in Switzerland on suspicion of laundering approximately $600 million through bribes, as well as in the form of proceeds from the fraudulent sale of oil and gas assets owned by the state of Kazakhstan from 2000 to 2005. The case was closed in 2013.
Management of large financial flows, seizure of other people’s property and money laundering abroad are not something exclusive for the top officials of Kazakhstan. Every year, $16.7 billion is illegally withdrawn from Kazakhstan, according to the research group Global Financial Integrity. This is comparable to the double budget of the National Fund of the country.
Original source of article: https://www.occrp.org/