Fraudster billionaire Timur Turlov tries to “clear” the name of Freedom Finance through the court

23 жовтня 2025 р., 16:22

Олена Юрченко 801 0

Russian-born billionaire Timur Turlov and his company, Freedom Finance, have become concerned about their reputation six months after complaints from the victims.

"The information about the activities of Freedom Finance and T. Turlov (the beneficiary of Freedom Finance) leads to the formation of a negative attitude among readers towards Freedom Finance, as well as forming public opinion about Freedom Finance’s illegal actions. This, in turn, harms the business reputation of Freedom Finance," stated in the lawsuit filed by Freedom Finance on October 2, naming KazTAG news agency and lawyer Svetlana Oralbayeva as defendants.

The company is asking to declare the statements made by Oralbayeva on April 3, regarding the loss of investors’ funds who trusted Freedom Finance employees, the withdrawal of funds to offshores, and comparing Turlov with the scandalous founder of the Russian financial pyramid "MMM", Sergey Mavrodi, sharing the opinion that the frauds could not have been carried out without the billionaire’s knowledge, as untrue and damaging to its business reputation. According to the company, information about the suicide of one of the investors who lost funds also affected Turlov’s reputation.

It should be noted that the investor’s suicide is a confirmed fact, and Freedom Finance ignored inquiries from the KazTAG editorial team for several months, which, in line with the principles of objective journalism, were sent to Turlov’s company so that the agency had the opportunity to reflect the position of the second party. Furthermore, requests for comments were ignored by Turlov himself, as the editorial repeatedly approached him directly for comments. Since KazTAG started reporting on the situation with investors’ funds losses, Freedom Finance provided its first response to an inquiry only in June, which was reflected in the corresponding material.

Currently, former top manager of Freedom Finance structures, Temirlan Bekov, is also suing the KazTAG editorial office, demanding the removal of an article about a criminal case against him. Notably, he does not require refutation of the published information about him but only seeks its deletion – previously in court he petitioned to prohibit KazTAG from covering this process, but failed.

Читайте по темі: Mettmann Public Company Limited: a financial “laundromat” for Russian sanctioned money through Cyprus, Spain, and the EU

From the latest publications of the editorial office about Freedom Finance, it remains to recall a series of materials from October 6, where it was reported that affected investors of Freedom Finance addressed a press conference appealing to Kazakhstan President Kassym-Jomart Tokayev, indicating that besides him, no one wants to build a legal state. At the same press conference, a representative of the Russian publication "Author I," which specializes in journalistic investigations, Sergey Zavadeev, spoke of pressure on the media regarding publications concerning the activities of "Tsifra Bank" and "Tsifra Broker" in Russia, which are associated with Freedom Finance and Turlov.

Moreover, on October 14, journalists reported that former head of the Freedom Finance branch, Ruslan Kakenov, was sentenced to five years in Kostanay.

Additionally, the situation around Freedom Finance raises concerns among government representatives – on May 28, Majilis deputy Aidos Sarym admitted he would not want the state to engage in saving this "financial institution" in the future.