Kazakhstan’s National Security Committee said that on 11 November its Anti-Corruption Service detained Nurlan Zhakupov, chairman of the state fund Samruk-Kazyna, and Yelzhas Otynshiev, head of the national railway company KTZ, on suspicion of a corruption-related crime. According to Podrobno.uz, other individuals were also detained. Investigators are establishing the circumstances of the alleged offence and the role of each suspect, but officials have not disclosed the specific accusations, the sums involved or the identities of the other detainees.
Key Takeaways: On 11 November, Kazakhstan detained the heads of Samruk-Kazyna and KTZ in a corruption probe conducted by the National Security Committee’s anti-corruption service. Officials have not yet announced formal charges, financial amounts or preventive measures. Social media videos from Astana near the Atlant residential complex showed banknotes resembling US dollars and suitcases, but no official link to the arrests has been confirmed.
Samruk-Kazyna manages Kazakhstan’s largest state assets, including oil and gas, energy and transport enterprises; the government is its sole shareholder. Zhakupov has chaired the fund since April 2023. Otynshiev, according to the report, was appointed KTZ head in July 2026 after serving as managing director for strategy and asset management at Samruk-Kazyna. KTZ is wholly owned by the fund and plays a key role in freight and passenger transport, including routes linking Kazakhstan with Uzbekistan.
The National Security Committee said the investigation is ongoing and that guilt can only be established by a court. It remains unclear whether formal charges have been filed and what preventive measure has been imposed. The social media footage from Astana showed scattered banknotes resembling US dollars and suitcases near the Atlant residential complex; police officers were reportedly at the scene. Users speculated that as many as eight suitcases of cash may have been thrown from a window, but the claim has not been officially confirmed. The ownership of the money and the circumstances in which it ended up on the street are unknown.
Further checks are expected into the detained executives’ financial and official activities and into possible schemes linked to state asset management and infrastructure projects. The case is significant for Kazakhstan amid efforts to improve transparency at state-owned companies and attract investment. A year earlier, Samruk-Kazyna’s board of directors included SKAI, an AI system designed to analyse documents and improve management transparency; the initiative was presented by Zhakupov himself. Future statements from the National Security Committee, prosecutors and courts are expected to clarify the legal consequences for the suspects and the scope of the investigation.
Source: podrobno.uz