Friday 21 November 2014

Cynical fraudster to forfeit €3.7bn

Cahal Milmo

Published 07/11/2012 | 05:00

A fugitive former bank boss is on the verge of being stripped of assets worth more than £3bn (€3.7bn), including an £18m (€22.5m) mansion on one of London's most expensive streets, after the British Court of Appeal ruled that he had shown rare "cynicism and deviousness" in fighting a massive fraud claim.

Mukhtar Ablyazov, who fled Britain earlier this year after he was sentenced to 22 months for failing to disclose full details of his wealth, is accused of defrauding one of Kazakhstan's largest banks "on an epic scale" while he was its chairman between 2005 and 2009.

The former Kazakh government minister claims the lawsuits against him are politically motivated. (© Independent News Service)

Irish Independent

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