Published
03/21/2025, 12:15On 20 March 2025, ElKat Limited Liability Company, with assets worth $6 billion KGS, was returned to the state and transferred to the Presidential Administration. This was reported in social networks by the head of the Information Policy Service of the Presidential Administration of the Kyrgyz Republic Daiyr Orunbekov.
According to the report, the investigation revealed that ElKat with assets worth $65-70 million remained under Bakiyev's control even after the revolution, which became known thanks to the testimony of Alexei Shirshov. Information about Bakiyev's connection to the company was a key factor in returning the assets to the state.
The investigation led to the discovery of an expensive property belonging to Maxim Bakiyev - the Chateau de la Group villa in south-eastern France, which was registered to his partner Boris Abramovich Berezovsky. After Berezovsky's death, the estate remained derelict, but the Kyrgyz government began work to transfer it into state hands two years ago, under the leadership of Justice Minister Ayaz Bayetov.
‘It is possible that other illegally seized Bakiyev assets will be disclosed in the future, as well as information about what happened after 2010, when the property was taken out of state control. Some, however, oppose the disclosure of these facts, perhaps for fear of exposing their personal interests,’ said Daiyr Orunbekov, head of the information policy service of the Presidential Administration.
He concluded by adding that the return of these assets could be an important step in the fight against corruption and in the restoration of justice, recalling that Askar Akayev's earlier return to Kyrgyzstan had also led to important information about the transfer of Kumtor to state ownership.