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RELATED PARTY TRANSACTIONS
 9 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS
Related party transactions as of December 31, 2024 and March 31, 2024, consisted of the following:

December 31, 2024March 31, 2024
Related party balancesTotal category as per financial statements captionsRelated party balancesTotal category as per financial statements captions
ASSETS
Cash and cash equivalents$50 $577,940 $203 $545,084 
Companies controlled by management
50 203 
Restricted cash$3,198 $742,153 $— $462,637 
Management1,924 — 
Companies controlled by management
1,234 — 
Other
40 — 
Trading securities$1,128 $3,415,517 $1,326 $3,688,620 
Companies controlled by management
1,128 1,326 
Margin lending, brokerage and other receivables, net
$22,391 $2,037,673 $22,039 $1,660,275 
Management9,508 8,849 
Companies controlled by management
12,883 13,190 
Loans issued$139,514 $1,454,259 $147,440 $1,381,715 
Management335 117 
Companies controlled by management
139,179 147,323 
Other assets, net$16,294 $171,040 $5,257 $102,414 
Companies controlled by management
16,294 5,257 
LIABILITIES
Customer liabilities$51,017 $3,783,291 $44,127 $2,273,830 
Management7,566 12,604 
Companies controlled by management
42,330 31,253 
Other
1,121 270 
Other liabilities$157 $132,007 $9,854 $81,560 
Management104 7,947 
Companies controlled by management
52 1,907 
Other1 — 
Three Months Ended December 31, 2024Three Months Ended December 31, 2023
Related party amountsTotal category as per financial statements captionsRelated party amountsTotal category as per financial statements captions
Revenue:
Fee and commission income$556 $143,436 $30,112 $120,159 
Management197 226 
Companies controlled by management
357 29,878 
Other
2 8 
Interest income$380 $224,688 $7,566 $226,445 
Management224 208 
Companies controlled by management
156 7,358 
Expense:
General and administrative expense$7,892 $73,437 $1,502 $32,106 
Management34 226 
Companies controlled by management
7,858 1,041 
Other— 235 
Nine Months Ended December 31, 2024
Nine Months Ended December 31, 2023
Related party amountsTotal category as per financial statements captionsRelated party amountsTotal category as per financial statements captions
Revenue:
Fee and commission income2,259 379,976 66,029 330,565 
Management706 691 
Companies controlled by management
1,545 65,322 
Other
8 16 
Interest income1,023 661,016 22,650 588,857 
Management643 512 
Companies controlled by management
380 22,137 
Expense:
General and administrative expense16,864 171,782 9,063 86,211 
Management311 397 
Companies controlled by management
16,553 8,346 
Other— 320 
During the three and nine months ended December 31, 2023, the Group engaged in various related party transactions, a substantial amount of which were conducted with FST Belize, a Belize company which is wholly owned by the Company’s chief executive officer, chairman and majority shareholder, Mr. Timur Turlov, and is not part of the Group. During such periods, FST Belize had its own brokerage customers, which included individuals and a market-maker institution and conducted business with the Group through a client omnibus account at Freedom EU. The Group terminated these arrangements with FST Belize before the end of fiscal 2024, leading to a decrease in related party transactions during three and nine months ended December 31, 2024 as compared to the corresponding periods in 2023.
As of March 31, 2024, the Group's margin lending receivables from Fresh Start Trading Ltd, amounted to $12,890. Fresh Start Trading Ltd is a Cyprus-based company that was controlled by an individual who served on Freedom EU’s management until November 5, 2024. From November 5, 2024, Fresh Start Trading Ltd. is no longer controlled by a Company's related party. Fresh Start Trading Ltd was mainly involved in foreign currency trading activity. Margin lending receivables from Fresh Start Trading Ltd were mainly denominated in Euros, and they were fully collateralized by cash denominated in U.S. dollars.
During the three and nine months ended December 31, 2024, the Group incurred general and administrative expenses relating to the Kazakhstan Chess Federation in the amount of $3,401 and $9,753, respectively. Kazakhstan Chess Federation is a Kazakhstan-based company in which Mr. Timur Turlov holds a management position. The Group continues to support the development of chess as a sport in Kazakhstan. During the three and nine months ended December 31, 2024, the Group has made financial contributions to the Kazakhstan Chess Federation to support the preparation and holding of championships, tournaments, training camps and other events.
As of December 31, 2024 and March 31, 2024, 18% and 7% respectively, of the Group's total related party customer liabilities were bank deposits from Turlov Family Office Securites LTD held by Freedom Bank KZ. Turlov Family Office Securities LTD is a private securities brokerage company that is wholly owned by Mr. Timur Turlov. As of March 31, 2024, 24% of the Group's total related party customer liabilities were deposits of Fresh Start Trading Ltd held by Freedom EU related to brokerage services provided by our subsidiary Freedom EU to Fresh Start Trading Ltd.
As of December 31, 2024 and March 31, 2024, 58% of the Group's total related party other assets were prepayment on the potential acquisition of A-Telecom as part of our strategy to enter the telecommunications market in Kazakhstan and build a digital fintech ecosystem.
As of December 31, 2024, and March 31, 2024, the Group had loans issued which included uncollateralized bank customer loans purchased from FFIN Credit, a company outside of the Group which is controlled by Timur Turlov.