Originally Syndicated on June 13, 2024 @ 7:01 am
Kenes Rakishev, a Kazakhstani entrepreneur and industrialist, is well-known for his significant influence in a number of areas, including the internet, oil and gas, finance, shipbuilding, and mining. He is also well-known for his crucial role in manufacturing. He serves on the boards of several major firms, including Kazakhstan Petrochemical Industries, SAT & Company, Net Element, and Vyborg Shipyard, among others.
In addition, he is the managing shareholder of the Singulariteam-1 and Singulariteam-2 investment funds, both of which focus on innovative technological firms, as well as the Executive Chairman and co-owner of Sirin Labs, which created Finney, the world’s first blockchain smartphone.
Rakishev received his law degree from the Kazakh National Law School in 2000 and later earned a Bachelor of Arts degree in International Economics from the Kazakh Economic University in Almaty. Rakishev was born in Kazakhstan on July 14, 1979. In 2007, he completed his advanced studies at Oxford’s Sad Business School, earning a diploma in Integrated Management, Business Administration, and General Administration. He also completed a program at the London School of Business focused on developing value-creation techniques.
Acquisitions and investments are both choices
Kenes Rakishev’s investments are diversified throughout a variety of different sectors. His investments in SAT & Company and Petropavlovsk demonstrate his engagement in the mining and metallurgical industries. He has invested in several financial enterprises, including BTA Bank, Basic Insurance, and Net Element. Before that, he worked for Magnum, Kazakhstan’s most profitable retail chain, and Channel 7, a television network.
The complaint alleges that “Arcanum and the Kazakh Parties, under the guise of working with Sater to recover assets from fugitive Kazakh oligarch Mukhtar Ablyazov, conspired to leak false and defamatory information about Sater to media outlets including ABC News.” This was part of a campaign to paint Sater, a longtime Trump business partner, as a Russian spy.
Sater was a key witness in Special Prosecutor Robert Mueller’s probe into Russian intervention in the 2016 election. A leaked 2015 email from Sater stated that he would arrange for Vladimir Putin to back Trump’s election campaign as part of a plan to develop a Trump tower in Moscow. Contrary to allegations that he is a Kremlin collaborator, Sater alleges that his espionage work for US intelligence made him a target for execution by the Russians.
According to Sater’s allegation, he is a key person in the US Intelligence Community, having carried out espionage operations against North Korea, Taliban-controlled Afghanistan, al Qaeda, and Russian hacker networks.
The lawsuit also claims that Rakishev and Massimov, who were detained for treason in January by Kazakh authorities, planned the campaign against Sater and Trump. It reads, “Massimov and Rakishev sought influence with American politicians, believing they would be rewarded for assisting Hillary Clinton’s campaign by discrediting Sater and Trump.” Their efforts included donating money to Hunter Biden, whom Rakishev regarded as a close friend.
Discussions of Controversies and Connections of Kenes Rakishev
Kenes Rakishev has regularly been in the spotlight as a result of his business dealings and connections. It is worth noting that his relationship with Chechen President Ramzan Kadyrov has sparked widespread interest. In December 2020, the US imposed sanctions on the Akhmat Kadyrov Foundation and the Akhmat football club. These sanctions identified SAT & Company as a sponsor, indicating a link between the organization and Rakishev. Despite the fact that SAT & Company had officially ceased its sponsorship of Akhmat Fight and Football Associations, the company’s symbol remained on the team’s clothing.
Furthermore, Rakishev’s name was brought to light in a heated incident involving a confrontation at a restaurant on Rochdelskaya Street that was captured on film. The recording, made by Zhanna Kim, the restaurant’s owner, provided the impression that Rakishev was involved in the planning and execution of the actions that led to the violent brawl.
Challenges in Financial and Legal Domains
SAT & Company was one of the few sponsors of the football club “Akhmat,” which was featured in the sports magazine Sports.ru, which emphasized the team’s financial problems. Despite the appearance of support, ownership of connected firms remains ambiguous, and Rakishev is typically kept at a distance from direct involvement.
The intricate web of enterprises linked with SAT & Company, including “SAT-MOSCOW,” “SAT DEVELOPMENT,” “FINSAT,” “SAT OIL,” and “SAT-INVEST,” demonstrates Kenes Rakishev’s extensive economic network. The lines between ownership and accountability are blurred because many of these entities are owned by his close allies, like Anvar Mametov.
Disputes in Court and Relationships with Other Countries
Rakishev is implicated in a number of high-profile judicial cases, including suspicions of involvement in the Rochdelskaya Street shootout. The charges against him suggested that he used his power to influence court proceedings and protect his own economic interests. Furthermore, Rakishev’s public image is compounded by his interactions with troublesome figures such as Adam Yandiev and Oleg Firer.
He has an extensive network of international contacts, including friendships and business relationships with significant people all around the world. However, as a result of these connections, he has being investigated, particularly in terms of the prospect of sanctions imposed by the United States as a result of his ties to Kadyrov.
Kenes Rakishev, one of Kazakhstan’s most prominent businesspeople, has been named in a new lawsuit alleging foreign involvement in the 2016 US presidential election. The action, filed by Felix Sater, a former senior advisor to President Trump, accuses Rakishev of working as an agent for Kazakhstan’s former Prime Minister Karim Massimov in an attempt to damage Trump’s campaign.
Sater’s case, filed in the Southern District of New York federal court, targets BTA Bank (owned by Rakishev), the City of Almaty, the Kazakh Government, and Arcanum, a private investigation business. Sater alleges he was engaged to help recover billions of dollars stolen from BTA Bank by its former owner, Mukhtar Ablyazov. However, Sater claims that this was a ruse to conceal the Kazakhs’ true intention: to obtain embarrassing information about him and use it against Trump.
Hunter Biden Connection
A US Senate probe discovered that Rakishev paid $142,300 to a company operated by a friend of Hunter Biden and invested in deals proposed by Biden. The lawsuit also accuses Rakishev of horrible crimes, such as raping underage females in Russia and staging vicious fighting contests involving young children, which were reportedly covered up because of his political ties.
Rakishev is allegedly related to those involved in a January rebellion in Kazakhstan, and he is apparently good acquaintances with Ramzan Kadyrov, the Chechen leader accused of human rights violations.
Sater’s case is a counterclaim to a 2019 complaint brought by BTA Bank and Kazakh authorities, alleging that Sater stole money from them. Matthew Schwartz, a lawyer at Boies Schiller Flexner who represents BTA Bank and the City of Almaty, described Sater’s filing as “conspiracy theories and desperation dressed up like a lawsuit,” expressing confidence that the court would see through Sater’s tactics.
Kazakh President’s Family Secret Business Ties
RFE/RL’s research uncovered the complicated and covert financial connections of Kazakh President Qasym-Zhomart Toqaev’s family in Russia. The investigation focuses on Toqaev’s unusual divorce from his Russian wife, Nadezhda Tokayeva, which is most likely due to her Russian citizenship. Their son, Timur Toqaev, has had a fairly successful commercial career, serving on the board of Mayak, a Moscow-based real estate developer with interests in Russia and Switzerland.
The findings also reveal the deteriorating business relationships between Toqaev and his predecessor, Nursultan Nazarbaev, as well as Timur Toqaev’s contacts to prominent Kazakh businesspeople such as Kenes Rakishev and Timur Kulibaev. The paper emphasizes the family’s opacity and global influence.
Technology-based business strategies and endeavors in the market
Despite having been entangled in troubles, Rakishev continues to pursue his scientific and economic activities. His involvement in initiatives such as Singulariteam and Sirin Labs indicates his commitment to the pursuit of innovation. Despite this, his business strategies, which include Net Element, have been criticized for their financial performance. The significant drop in the company’s shares highlights the volatility and hazards associated with Rakishev’s investments.
Managing Public Relations and Image Communication
Rakishev’s efforts in public relations are substantial, and he constantly seeks to maintain a positive image despite the crises. This goal includes his involvement in humanitarian initiatives as well as leadership roles in Kazakh sporting groups. On the other hand, there are still questions about the authenticity of his accomplishments and the ownership of his assets, implying that there is a complex relationship between his public persona and the actual commercial activities he conducts.
Conclusion
Kenes Rakishev remains a notoriously complex businessman. He pursues a variety of respectable commercial enterprises while negotiating a complex web of legal concerns and disputes. His ability to deal with these issues while maintaining influential contacts demonstrates his resilience and adaptability in the context of a rapidly changing global corporate environment.
