British court dismissed political implication in BTA Bank suit against Ablyazov

11 мая 2011, 11:55
Mukhtar Ablyazov. Photo by Yaroslav Radlovsky©
Mukhtar Ablyazov. Photo by Yaroslav Radlovsky©
The British court ruled that BTA Bank's suit against its former top executive Mukhtar Ablyazov does not have a political implication, RIA Novosti reports.

Having reviewed an appeal of the defendants, the commercial department of the court of Great Britain confirmed the legitimacy of the Kazakhstan bank's claims against its former top executive.

The court judgment states that the bank has its own grounds for starting the legal proceedings against Ablyazov. The judge ruled that Ablyazov's statement implying that the bank's claim against him is a bad faith claim and that judicial proceeding are being abused is groundless.

In January 2011 Kazakhstan General Prosecutor's Office requested British authorities to arrest and extradite the former top executive of BTA Bank Mukhtar Ablyazov suspected of a large scale fraud and funneling of the bank's money through dummy companies. British authorities seized Mukhtar Ablyazov's passport and demanded him to disclose his financial operations.

The amount of money illegally appropriated by Ablyazov is estimated at around $7 billion. The total of seven lawsuits has been filed against the Kazakhstan businessman. He deems them politically motivated.

Currently former top executive of BTA Bank lives in Great Britain. Ablyazov's case has become a major fraud lawsuit in the history of London High Court.

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