Kazakh Bank Adds 10 Defendants To Suit Over 'Stolen' $500M

Law360, London (December 3, 2020, 5:24 PM GMT) -- A Kazakhstan bank has intensified its efforts to claw back billions of dollars from its former chairman by widening a long-running lawsuit to include companies and businessmen it says conspired to help him hide $500 million.

Kazakhstani oligarch Bulat Utemuratov, his company Verny Capital JSC, and a Monaco-based lawyer are among the 10 defendants added to the case on Monday by JSC BTA Bank, a Kazakh state-owned lender, as it pursues ex-chairman Mukhtar Ablyazov and his son-in law Ilyas Khrapunov.

BTA Bank has hunted Ablyazov through the English courts since 2009, winning a series of decisions that have already seen it awarded more than...

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