New Financial Pyramid Operating Through WhatsApp Chats Uncovered in Kazakhstan; Investigation Launched

Kazakhstani citizens have once again fallen victim to a major fraudulent scheme, enticed by promises of easy money. This time, the fraudsters leveraged modern technology to deceive the public. The Financial Monitoring Agency (FMA) has initiated a large-scale investigation in the Zhambyl region into the creation and management of a new financial pyramid operating under the name "ENVIDA AI."

The organizers of the financial pyramid did not even set up a physical office to run their advertising campaign. Instead, they extended their reach through ordinary WhatsApp chat groups available on almost everyone's phone. Citizens who joined these groups were promised a risk-free, stable, and highly lucrative income.

The project marketed itself not merely as a company, but as an "international ecosystem investing in real assets." The inclusion of "AI" (Artificial Intelligence) in its name was a calculated tactic designed to exploit current technological trends and gain the public's trust.

According to the Financial Monitoring Agency, the project's marketing model was built on a multi-level structure, employing a classic pyramid scheme principle:

"The primary revenue within this project was not generated from any actual investments, but solely through the funds contributed by newly recruited participants. A deceptive promise was made that the more people a member invited, the higher their income would grow."

The fraudsters cast an exceptionally wide net. To date, the ongoing investigation has revealed that more than 370 contributors from several regions of Kazakhstan poured their money into this fraudulent scheme. The majority of the victims are residents of the following areas:

•  Aktobe region
• Atyrau region
• Kyzylorda region
• Pavlodar region
• Turkestan region
• Almaty city

Currently, active investigative measures regarding this case are underway. The Agency is determining the exact number of affected citizens and calculating the total material damage. The main organizers of the project face severe legal penalties under the law.