Deals
BTA Bank Ex-Chairman Gets 22 Months in Prison for Contempt
This article is for subscribers only.
Mukhtar Ablyazov, the former chairman of Kazakhstan’s BTA Bank, was sentenced to 22 months in a U.K. jail for breaching a court-ordered freeze on his assets and lying under oath in a $5 billion fraud lawsuit.
The violations were “deliberate and brazen” and require that Ablyazov be placed in immediate custody, Judge Nigel Teare said today in London. Ablyazov, who fled to Britain to escape prosecution in his home country, failed to appear at the hearing. BTA’s lawyer said the ex-banker may be fleeing again.