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BTA Bank Wins Sanctions Against Ex-Chairman in Theft Lawsuit

  • Ablyazov ordered to pay Kazakh bank’s legal fees for discovery
  • Lender claims the Kazakh dissident stole billions of dollars
Mukhtar Ablyazov
Mukhtar AblyazovPhotographer: Martin Bureau/AFP via Getty Images
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A federal judge in New York ordered former BTA Bank JSC chairman Mukhtar Ablyazov to pay the Kazakh lender’s legal fees for the discovery process after he failed to hand over evidence in a lawsuit accusing him of laundering hundreds of millions of dollars in U.S. real estate.

U.S. Magistrate Judge Katharine Parker also said Ablyazov was “less than forthcoming” in a court-ordered deposition carried out in France, during which he claimed not to remember his own phone number or whether he’d used an accountant since fleeing Kazakhstan in 2009.