Photo: Aibek Skakov / Pexels
Nurlan Zhakupov, head of Samruk-Kazyna, and Yelzhas Otynshiyev, head of KTZ, have been detained on suspicion of corruption. Zakon.kz reported the news, citing the KNB. Investigators are working on the case.
What happened
The KNB said investigators were establishing all the circumstances of the case. The agency declined to release further details of the pretrial investigation, citing Article 201 of the Criminal Procedure Code.
The KNB statement also said efforts to combat corruption were continuing under the president’s instructions and in line with the principle of “Law and Order”.
What this means
Zhakupov and Otynshiyev have been detained on suspicion of committing a crime. Suspicion does not establish guilt: the presumption of innocence applies.
The investigation continues.
The roles Zhakupov and Otynshiyev held
Nurlan Zhakupov was appointed chairman of the management board of the Samruk-Kazyna sovereign wealth fund on April 3, 2023. Before that, he had led Kazakhstan Investment Development Fund Management Company, KIDF, since 2020.
In 2016–2017, Zhakupov was managing director for development and investment at Kazatomprom. He then headed the Astana Social and Entrepreneurial Corporation and represented Rothschild & Co in Kazakhstan in 2019–2020.
Yelzhas Otynshiyev was appointed chairman of the management board of Kazakhstan Temir Zholy on July 20, 2026. Before joining KTZ, he had served as managing director for strategy and asset management at Samruk-Kazyna since April 2023.
In that role, Otynshiyev oversaw the fund’s portfolio companies, including those in the oil and gas and railway sectors. He had also served on KTZ’s board of directors since February 2024.
Earlier, in 2009–2019, Otynshiyev worked at Samruk-Kazyna and its subsidiaries. In 2021–2023, he held senior positions at KIDF, where he oversaw the investment portfolio.
