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Governments To Pay $84M To Kazakhstan

Law360 (May 4, 2007, 12:00 AM EDT) -- The Kazakh, Swiss and U.S. governments have come to an agreement in which the United States and Switzerland will unfreeze $84 million in allegedly ill begotten oil money if Kazakhstan uses the funds on social programs.

In a complaint filed Thursday, the U.S. Attorney’s Office in Manhattan and the U.S. Department of Justice reiterated claims that New York businessman James H. Giffen had bribed high-level Kazakh politicians, including President Nursultan Nazarbaev and former Prime Minister Nurlan Balgimbaev, on behalf of Western oil companies.

“The unlawful payments...
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