Forbes "30 Under 30" Alumna Under Investigation for Multi-Billion Construction Fraud

The Financial Monitoring Agency (AFM) has launched a high-profile criminal investigation into Moldir Suyunshali, the head of MM Group and a former member of the Forbes Kazakhstan "30 Under 30" list, for large-scale fraudtotaling approximately 3.9 billion tenge.

Currently under house arrest, Suyunshali is accused of orchestrating a multi-billion tenge scheme that left 56 families without their promised homes and highlighted a deceptive "successful entrepreneur" facade. Between 2021 and 2024, she attracted investments for the "Nura Elite" project, which planned to build 37 cottages and 24 townhouses in Astana, yet only basic frameworks were completed despite a 2023 deadline. Investigation records show that 322 million tenge were diverted to the personal accounts of the suspect and her relatives, while 145 million tenge were withdrawn in cash.

Furthermore, the AFM discovered that Suyunshali sold land plots she did not legally own, as the property was leased rather than owned, and even used a client’s fully-paid cottage as collateral for personal debts before reselling it multiple times. The case has gained even more notoriety due to its link to the Perizat Kairat scandal, where Suyunshali allegedly provided the "Biz Birgemiz" Foundation with a housing certificate for a residential complex that never broke ground and for which she held no permits. Despite individual investments ranging from 50 to 80 million tenge, defense lawyers confirm that the project accounts are now empty, leaving construction frozen and victims facing massive financial losses.