Updated on September 30, 2014 9:13PM (AST)
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Ambassador Extraordinary and Plenipotentiary of Japan to Kazakhstan Masayoshi KAMOHARA: EXPO-2017 WILL CONTRIBUTE TO FURTHER DEVELOPMENT OF KAZAKHSTAN

Director of Kazakhstan’s Institute for Strategic Studies Bulat SULTANOV: CREATION OF THE EURASIAN ECONOMIC UNION IS NOT DOGMA BUT GUIDANCE FOR ACTION

First Deputy Prime Minister of Kazakhstan Bakytzhan SAGINTAYEV: EURASIAN ECONOMIC UNION IS AN INTERNATIONAL ORGANIZATION FOR REGIONAL ECONOMIC INTEGRATION ONLY

Expert of UN Food and Agriculture Organization Stepan TANICH: OVER FIVE MILLION PEOPLE UNDERNOURISHED IN CENTRAL ASIA AND CAUCASUS


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Kazakhstan's new criminal code threatens Ponzi scheme masterminds with severe punishment

Almaty. January 25. INTERFAX-KAZAKHSTAN - A new version of Kazakhstan's criminal code to be reviewed by the government in May this year would significantly toughen punishment for the creation and masterminding of Ponzi schemes.

According to Article 224 of the draft code, individuals organizing and masterminding Ponzi schemes would face fines of up to 3,000 monthly calculation indices (MCI) or correctional community work or would be imprisoned for 3 years without/with confiscation of their property. Gangs of individuals for the same offences would face imprisonment of up to 7 years without/with confiscation of property. Imprisonment could be up to 10 years when the same criminal activities were aimed at receiving extremely large amounts of money. (1 MCI is currently 1,731 tenge. The exchange rate is 150.7 tenge /$1).

Kazakhstan's current laws do not have a definition for Ponzi schemes and individuals cannot be prosecuted for this kind of fraud. As reported, over 2,600 people were cheated in a KazRosInvestProekt Ponzi scheme in 2011 in Kazakhstan, then its masterminds were jailed for fraud and tax evasion.

The new version of the criminal code would proceed to Kazakhstan's parliament in August this year.



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Putin, Nazarbayev note drop in trade in 2014

ATYRAU, Kazakhstan. Sept 30 (Interfax) - Russian and Kazakh presidents Vladimir Putin and Nursultan Nazarbayev discussed bilateral cooperation in talks in Atyrau ahead of an inter-regional cooperation forum.
Nazarbayev said that a drop in bilateral trade occurred in 2014, although relations between the two states have been on the upsurge.

Host countries only entitled to build Caspian pipelines, says Turkmen leader

ASTRAKHAN. Sept 30 (Interfax) - The construction of pipelines across the Caspian Sea bed is the sovereign right of the countries via which the pipelines run, Turkmenistan's president, Gurbanguly Berdymuhamedow, said at the Caspian summit.

Nazarbayev invites Caspian states to use Kazakh transit network for exports to China

ASTANA. Sept 30 (Interfax-Kazakhstan) – President Nursultan Nazarbayev at the Caspian Summit in Astrakhan on Monday suggested that the Caspian states use Kazakhstan's transport routes to deliver goods to the Chinese market.


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