Kenes (Kenges) Rakishev in the Media

Kenes Rakishev is an internationally active investor and entrepreneur. He is involved in several sectors including tech, finance, and mining. Keep up with his latest investments and business endeavours.


Sirin Labs and Foxconn Partner to Make Blockchain Phones

January 8, 2019

Smartphones will likely be the latest in a rapidly-growing list of devices driven by blockchain technology and innovation. In an era in which companies are competing to produce the most cutting-edge systems, Foxconn Technology Group has been attempting to take the lead in the development of blockchain-enabled mobile phones through its subsidiary, FIH Mobile. The company has teamed up with Sirin Labs to manufacture the Finney—the world’s first blockchain-driven smartphone. Known as a forerunner in blockchain-technology development, Sirin Labs developed the Finney with a focus on cryptocurrency security. The company expects millions of units to be sold.

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Sirin Labs Partners with Virgin Gates - Brings Finney to the Middle East

Sirin Labs Partners with Virgin Gates - Brings Finney to the Middle East

November 20, 2018

A partnership between Sirin Labs and the Egypt-based technology company Virgin Gates was announced. Sirin Labs and Virgin Gates are planning to bring the Finney, the world’s first blockchain smartphone, to Middle Eastern countries such as: Kuwait, Oman, Saudi Arabia, Oman, UAE and Egypt. As part of the partnership, a concept store will be launched in Dubai. This launch is considered to be particularly significant as it is in alignment with the UAE government’s strategic vision of making the mainstream adoption of cryptocurrency as a means to make payments across the board a reality by 2020.

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Sirin Labs to Open Blockchain Smartphone Concept Store in Dubai

Sirin Labs to Open Blockchain Smartphone Concept Store in Dubai

November 19, 2018

Sirin Labs, the manufacturer of the Finney—the first blockchain-driven smartphone in the world, has partnered with Virgin Gates to bring the phone to Middle Eastern countries, such as Egypt, Oman, Kuwait, Saudi Arabia, Bahrain, and the UAE. Based in Egypt, Virgin Gates is a global technology firm run by leaders in the industry and funded by investors from the Middle East and Egypt. The partnership will also enable a Sirin Labs concept store to open in Dubai and fits right into the UAE government’s plans to make cryptocurrency mainstream by 2020.

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Kenes (Kenges) Rakishev Invests in the Space Drone

November 15, 2018

In addition to owning a 30% stake in Effective Space, Sirin Labs Co-Founder and Chairman Kenes (Kenges) Rakishev is now planning to invest a further USD 6-8 million in the company to develop the Space Drone. The drone is a small craft designed to service satellites and perform other tasks in space. These tasks include station maintenance and cleaning up some of the over half a million pieces of junk floating around the Earth that could endanger astronauts and satellites. The Space Drone is scheduled to launch in 2020.

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UK Court Slaps Huge Fine on Khrapunov in BTA Case

Ilyas Khrapunov Fined USD 500 million

September 24, 2018

The British High Court slapped Ilyas Khrapunov with a massive USD 500 million fine for his alleged involvement in the embezzlement of billions of dollars from BTA Bank. According to the ruling, Khrapunov helped his father-in-law Mukhtar Ablyazov commit the crime through the circumvention of a freezing order. The court ruling was considered a modest victory for the government of Kazakhstan and for BTA Bank, which has only managed to recover a small portion of the misappropriated funds over the years.

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Mukhtar Ablyazov, former chairman of BTA Bank, has been convicted of breaching a freezing order VLADIMIR TRETYAKOV/REUTERS

Kazakhstani Ordered to Pay Damages to BTA Bank

August 30, 2018

Judge David Waksman of the British High Court ordered the Kazakhstani businessman Ilyas Khrapunov to pay both damages and interest to BTA bank. Judge Waksman is responsible for the London mercantile court. The order was made after Khrapunov was found guilty of conspiring with his father-in-law Mukhtar Ablyazov to embezzle funds from the bank. Ablyazov was previously a chairman at BTA bank and was convicted six years ago in England when he breached a freezing order. Ablyazov was given a prison sentence of 22 months. The recent ruling was considered a valuable step in recovering millions owed to the bank.

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Rolls Building

‘No Merit Whatsoever’ Found in Kazakhstani’s Fraud Hearing

August 29, 2018

In a high court ruling in London in August 2018 it was found that Ilyas Khrapunov would not be extradited to Kazakhstan or Russia from Switzerland where he is based. His Honour Judge David Waksman ruled that there is no merit in the Khrapunov’s claim that he would be at risk of extradition should he return to the UK for questioning. The case comprises of 11 claims from BTA Bank seeking justice for the alleged misappropriation of over US$6 billion. Hogan Lovells, BTA Bank’s representative, claimed that the case is one of the largest of its kind in the UK ever.

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BTA Bank Stands to Recover Billions

August 23, 2018

In an ongoing attempt to reclaim billions after a major embezzlement allegedly done by former chairman Mukhtar Ablyazov, BTA bank has had some success. A British High Court order made by Judge David Waksman ordered Ilyas Khrapunov, son-in-law of Ablyazov, to pay US$500 million to the bank in lieu of damages incurred. It was found that Khrapunov is guilty of conspiring with his father-in-law as he moved funds into offshore companies and left the bank with a deficit of around US$10 billion. BTA shareholder Kenes (Kenges) Rakishev commented that this is a noteworthy step for the bank towards recovering the misappropriated funds.

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An image shows Trump Tower on Fifth Avenue in New York City. Ilyas Khrapunov has been accused of laundering money through Trump Towers in SoHo. MICHAEL BROCHSTEIN/SOPA IMAGES/LIGHTROCKET VIA GETTY IMAGES

Ilyas Khrapunov Forced to Pay Embezzled Funds Back to BTA Bank

August 23, 2018

Ordering him to pay some USD 500 million in damages, a British High Court has found Ilyas Khrapunov guilty of conspiring with former BTA Bank Chairman Mukhtar Ablyazov to embezzle over USD 6 billion from the bank. Ablyazov allegedly misappropriated and laundered the funds from BTA Bank with Khrapunov’s help. Khrapunov’s parents have also been accused of money laundering, embezzlement, and a host of other charges. Kenes (Kenges) Rakishev, a large shareholder of BTA Bank, stated that Ablyazov was posing as a political dissident in order to escape international justice and that this court ruling was a major step towards recovering the funds.

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Court illustration

"Court of the Blockchain" Being Developed in Project to Form Comprehensive Judiciary

July 30, 2018

Smart Dubai together with the Dubai International Financial Centre (DIFC) Courts have announced plans to develop a way to streamline the legal system by developing a “Court of the Blockchain.” The organisations plan to explore how blockchain technology may aid cross-border court judgements and how it could drive a comprehensive project to create a significantly more efficient legal system. Smart Dubai Office Director-General Dr. Aisha bint Butti Bin Bishr said Dubai plans to have all applicable government transactions run on blockchain technology by 2020.

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blockchain smartphone

Sirin Labs Unveils Final Design of First Blockchain Smartphone

July 11, 2018

Two years after releasing the ultra-secure Solarin smartphone, Sirin Labs has begun finalising the design of its next mobile phone, the Finney. Created with security as its primary focus, the Finney is the first ever dual-screen blockchain smartphone in the world. Founded by Kenes (Kenges) Rakishev, Moshe Hogeg, and Tal Cohen in 2013, Sirin Labs has a vision of bridging the gap between the mass market and the blockchain economy. The company has been working around the clock to bring the world a smartphone with multi-layered digital protection that will also have a sleek design and state-of-the-art software. The Finney is the fruit of the company’s labour.

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Kenes (Kenges) Rakishev Backs Petropavlovsk PLC Boardroom Decisions

June 29, 2018

An ongoing battle over the future of the Petropavlovsk PLC board finally came to an end at the company’s annual general meeting in June 2018. Shareholders voted in favour of expelling most of the current management and welcoming back three former executives. Over half of the proposals made by the existing board were rejected and nearly all proposals put forward by the insurgent shareholders were accepted. The incoming chief executive and chairman of the board were both ousted, as well as three of the four non-executive directors of the company. Kenes (Kenges) Rakishev, the largest shareholder in Petropavlovsk, with a stake of 22%, backed this takeover.

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Fighting Device

Israeli Drone-Fighting Device Launched –Kenes (Kenges) Rakishev Invests US$2 Million

June 14, 2018

Israel-based company General Robotics launched its latest anti-drone technology at the Eurosatory-2018 fair in Paris. The Pitbull AD can be installed on a variety of vehicles and is capable of either jamming drones or destroying them. Anti-drone technology has become increasingly popular with global arms manufacturers as drones have become a global threat. Investor Kenes (Kenges) Rakishev believes that this project may be the answer to the increasing risk of drones around the world. Rakishev owns a 30% stake in General Robotics and has invested two million dollars into the company.

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Kenes (Kenges) Rakishev

Kenes (Kenges) Rakishev Sells Stake in Central Asia Metals (CAML)

May 24, 2018

After CAML’S annual general meeting, an announcement was made that Kenes (Kenges) Rakishev had sold the remaining 6.6% shares he had in the company and would be leaving the board on which he served since 2013. The Kazakhstani businessman and investor initially owned a 40% stake in the Kounrad tailings project and then converted it into a 19% stake in CAML. Although Rakishev is moving away from CAML, he is still involved in the mining industry as a 22% shareholder of Petropavlovsk PLC.

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The Battle for a London-listed Gold Mining Company

May 14, 2018

For the second time in the space of a single year, shareholders and board members are fighting for control of Petropavlovsk PLC, one of the richest gold mines in Russia. Supported by 22% stakeholder Kenes (Kenges) Rakishev, shareholders are once again attempting to throw out a significant part of the company’s board of directors and to reinstate Pavel Maslovskiy, the company’s founder. Because of his significant shares in the company, it is ultimately up to Rakishev to decide who leads Petropavlovsk and what direction it will pursue in the future.

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Kenes (Kenges) Rakishev

New Beginning for Petropavlovsk as Kenes (Kenges) Rakishev Takes 22% Stake

January 23, 2018

After acquiring a 22% share in Petrovavlovsk mining company, Kenes (Kenges) Rakishev expressed his commitment that the company would now make a fresh start. Rakishev said that it may even undergo a name change. The Kazakhstani business executive further said that his acquisition of this significant stake would mean that it is a new chapter in the company’s history. He suggested that even though the company cannot grow as quickly as what investors would like it to, steady growth can be achieved by making strategic mergers and acquisitions.

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Sirin Labs of Switzerland is developing its Finney line of blockchain smartphones. Image Credit: Sirin Labs

USD 157.8 Million Raised in ICO for Finney Blockchain Phone and PC

December 27, 2017

Sirin Labs, the creator of the world’s first blockchain smartphone, announced that it had raised as much as USD 157.8 million in its initial coin offering. The company’s blockchain-driven devices include a smartphone and personal computer that offer enhanced security measures and protection against cybercrime. As part of its mission statement, Sirin Labs hopes that its products will act as a bridge between the mass market and the rapidly-evolving blockchain economy by making the use of crypto services simpler and more accessible. Co-CEO Moshe Hogeg said that he is both humbled and thrilled by the support the company has received.

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