16 Jun 2011

Kazakh Bank Asks Britain to Extradite Former Bank Head

Kazakh bank BTA has asked the UK to extradite its fugitive former head, Mukhtar Ablyazov (pictured here), for large-scale fraud and funneling of funds through fake companies, estimated to be $7billion.

Meanwhile, a UK court has ruled against Mr. Ablyazov’s claims that the request for extradition was politically motivated, stating that the bank has sufficient grounds to file a claim against Mr. Ablyazov.

Mr. Ablyazov was once a part of Kazakh President Nursultan Nazarbaev’s inner circle, but has since fallen from grace and fled the country in 2009.

For more information on the story, please see CNBC’s article on the matter along with an article from Tengrinews.kz.

Please note that the photo of Mr. Ablyazov comes from Tengri news and is copyright of Yaroslav Radlovsky.