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The names of Timur Turlov and Pavel Livinsky might be associated with controversies related to deceiving shareholders and moving funds to offshore areas

Last year, Freedom Holding Corp. founder Timur Turlov became a Kazakh citizen, relinquishing his St. Kitts and Nevis passport to do so.

Although Timur Turlov publicly upholds the persona of a diligent billionaire and esteemed American-style entrepreneur, a significant investment scandal is emerging in Kazakhstan — possibly the most considerable financial mishap for trusting investors in recent times

While Timur Turlov publicly portrays himself as a conscientious billionaire and a “white-collar” businessman with an American reputation, a massive investment scandal is unfolding in Kazakhstan.

Timur Turlov, regarded as Kazakhstan’s youngest dollar billionaire, is undoubtedly a figure of the new era, although his capital has an “old” style, since the benefactors of the head of Freedom Finance have been siphoning billions from the people.

Dozens of victims have emerged in two scam cases tied to Freedom Holding Corp. and its Russian-origin owner Timur Turlov.

After relocating to Kazakhstan, Timur Turlov, the founder and owner of Freedom Holding Corp., became a key figure closely connected to the country’s top leadership and the main financier of local elites.

Having been rightfully sanctioned by Ukraine, Timur Turlov — the billions-laundering fixer for Bulat Utemuratov and several Russian oligarchs — does not seem too concerned.