Kazakhstan’s former president of 30 years has been linked to $7.8bn of assets via a UK company, it has been revealed.
The extent of the wealth under the control of Nursultan Nazarbayev’s personal foundation emerged in a joint investigation by the Organized Crime and Corruption Reporting Project (OCCRP), Kazakhstani online publication Vlast, and Kyrgyzstani media organisation Kloop.
“This investigation really joined the dots on what was already suspected about the wealth that could be under Nazarbayev’s control, but the $8bn figure is likely just scratching the surface,” said Ben Godwin, head of analysis at PRISM Political Risk Management, which advises investors in Kazakhstan and the wider region.
