Organizers of the «HRT» Financial Pyramid Convicted

In the city of Aktobe, a court has issued a verdict in a case involving the creation and management of the financial pyramid «Harmony Rider Technology» (HRT), as well as the legalization (laundering) of criminal proceeds.

The investigation was conducted by the Department of Economic Investigations for the Aktobe Region of the Financial Monitoring Agency of the Republic of Kazakhstan.

It was established that in 2024, a group of individuals organized a financial pyramid scheme, presenting it as an international company allegedly engaged in the purchase and leasing of electric scooters abroad.

In reality, investors’ income was generated solely through the attraction of funds from new participants.

To recruit citizens, the organizers carried out active advertising campaigns on social media and messaging platforms, as well as offline meetings and presentations. To create an appearance of legitimacy, an office was rented in Aktobe, where promotional activities were conducted.

Investment amounts ranged from 350 to 20,000 US dollars, while the promised returns ranged from 12 to 690 US dollars per day.

To launder illicit proceeds, funds were withdrawn through cryptocurrency wallets, followed by conversion and transfer to bank accounts.

As a result of the illegal activities, funds from 115 investors totaling over 197 million tenge (420, 000 US dollars) were attracted into the financial pyramid.

Using these funds, the organizers purchased three vehicles, one of which was registered under a relative’s name.

By the court’s verdict, the organizers were sentenced to imprisonment for up to 6 years.

In addition, three vehicles were confiscated in favor of the state by court decision.

The verdict has entered into legal force.

Press ServiceFinancial Monitoring Agency of the Republic of Kazakhstan