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Wednesday, April 23, 2014
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BTA Bank statement: French creditors among those who suffered from Ablyazov’s fraud

14/08/2013 08:26 (252 Day 08:01 minutes ago)

The FINANCIAL -- BTA Bank announced that French creditors are among those global investors who suffered as a result of former Bank Chairman Mukhtar Ablyazov's fraud.


BTA Bank Managing Director and Member of the Management Board, Pavel Prosyankin said:

"Mr Ablyazov has been found by the High Court in England and the Kazakh courts to have committed one of the world's biggest frauds, which not only nearly brought down our Bank, but also caused severe losses to global investors including from France. Creditors include such respected institutions as BNP Paribas , Societe Generale, BRED Banque Populaire и Credit Agricole.

That he is now in prison and desperately trying to position himself as a victim of political persecution is predictable and we expect that he will fail in France as he failed in the UK and Kazakhstan.

The facts are indisputable in this case and various judges at the High Court in England have repeatedly rejected Mr Ablyazov's argument that the Bank's claims against him are politically motivated. He stole the money and the court has authorized BTA Bank to seize those assets which rightfully belong to the Bank. It is because he has disregarded the law of every country in which he has operated, particularly the UK that he is now in prison. Indeed, in February 2012 the English High Court sentenced him to 22 months in prison. He could have followed court orders. It was his choice to flee London in violation of the English High Court and, having demonstrated he is a flight risk, he is now in custody.

We urge to consider the reason for Mr Ablyazov's arrest - that he stole at least $6 billion - and the very real impact that has had on individuals and businesses the world over. His disregard for the rule of law is what has finally landed him in jail. BTA Bank is committed to continuing to pursue justice to recover the stolen assets within the framework of international law."



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