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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, People

Kazakh bank BTA asks UK to arrest former head

Posted on 19 May 2011

BTA, Kazakhstan’s No. 3 bank by assets, has asked Britain to arrest its former head Mukhtar Ablyazov, from whom it seeks billions of dollars in compensation for alleged misappropriation.
An Ablyazov spokesperson said: “Ablyazov considers this application to be baseless and will be defending it vigorously.” “These applications to court are nothing more than an attempt by the government of Kazakhstan and its State Fund Samruk-Kazyna to avoid responsibility for BTA’s impending default following nationalisation………………………………………Full Article: Source


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