Kazakhstan Detains Heads of Samruk-Kazyna Wealth Fund and National Railway on Corruption Suspicion
Kazakhstan's National Security Committee confirmed on November 12 that its Anti-Corruption Service had detained Nurlan Zhakupov, chairman of the management board of the Samruk-Kazyna sovereign wealth fund, and Yelzhas Otynshiyev, chairman of the management board of the Kazakhstan Temir Zholy (KTZ) national railway company, on November 11. The two men are suspected of committing a corruption-related crime, and several other, unnamed individuals were detained with them.
The committee said investigative actions were under way to establish all the circumstances of the case. According to The Times of Central Asia, the committee declined to disclose details of the alleged offence, citing Article 201 of Kazakhstan's Criminal Procedure Code, which restricts disclosure of pretrial investigation information. As of November 12, authorities had not announced formal charges; detention does not constitute a finding of guilt.
Zhakupov has headed Samruk-Kazyna since April 2023 and has also chaired the board of the state oil and gas company KazMunayGas since May 2025. Otynshiyev became chairman of KTZ on July 20, 2026. Samruk-Kazyna controls major assets across Kazakhstan's energy, transport, telecommunications and infrastructure sectors, including Air Astana and KazMunayGas, and owns 100 percent of KTZ. KTZ operates Kazakhstan's mainline railway network, carries freight transit between China and Europe, and has said it is preparing for a planned international IPO.
Footage aired by Astana TV showed dollar bills scattered on a street outside a residential complex in Astana; reports said a suitcase of cash had been thrown from the complex during the operation to detain wealth-fund managers. As of publication, Kazakh authorities had not confirmed any link between the money and the detentions, and its origin, exact amount and owner remained unclear.
(Source: Reuters)
Source: Reuters
Published by GSM · USA (original Chinese edition)
Photo: 图：哈萨克斯坦首都阿斯塔纳市景（资料图，已预裁为16:9横幅）。照片：CC BY 2.0，经 Wikimedia Commons。 / Photo: Astana, the capital of Kazakhstan (file photo, pre-cropped to 16:9). CC BY 2.0, via Wikimedia Commons.
