A high-profile fraud suspect accused of embezzling billions has been extradited from Georgia to Kazakhstan, marking a major development in the case.

The individual is suspected of large-scale embezzlement while serving as the head of a company, The Caspian Post reports via Kazakh media.

Investigators say he illegally arranged a lease agreement for telecommunications equipment without proper public procurement procedures, causing significant financial damage to Transtelecom.

Authorities estimate the damage at more than 4 billion tenge, classifying the case as especially large-scale theft.

After committing the crime, the suspect fled and was placed on an international wanted list. He was eventually detained in Georgia in March before being extradited to Kazakhstan.

The suspect is currently being held in a pre-trial detention center. If convicted, he faces up to 12 years in prison, along with confiscation of property.