Sater Can't Arbitrate Money Laundering Claims, NY Court Told

Law360 (September 13, 2019, 5:24 PM EDT) -- The Kazakh city of Almaty and one of the country’s banks told a New York federal court Thursday that Felix Sater cannot pause a suit accusing him of helping to launder about $440 million in stolen money while a related arbitration is ongoing.

Sater, a convicted felon and an associate of President Donald Trump, said in August that claims he helped launder money allegedly looted by BTA Bank’s former chairman, Mukhtar Ablyazov, should be stayed. He wants the case paused pending the outcome of an arbitration proceeding initiated by his company, Litco LLC, against Almaty and the bank.

That arbitration seeks...

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