BTA Bank statement on French court rejection of Mukhtar Ablyazov bail request05.07.2016 15:50:50
BTA Bank was pleased to note the decision of the French court to reject again former Bank Chairman Mukhtar Ablyazov’s application to be released on bail while awaiting the outcome of extradition proceedings. Mr Ablyazov was arrested on 31 July 2013 in connection with crimes that he is alleged to have committed against the Bank in Ukraine and Russia.
The Court of Appeal of Lyon confirmed its initial decision taken on 11 March 2016 not to grant Mr Ablyazov bail despite Mr Ablyazov’s claim that the duration of his custody was abnormal, a reason he invoked to appeal the 11 March decision.
Mr Ablyazov has been found by the High Court in England to have been at the centre of a massive fraud, which not only nearly brought down our Bank, but also caused severe losses to global investors including those from France.”
The English High Court has already found him liable for fraud and ordered him to pay the Bank over $4bn.
A representative from BTA bank said:
“Mr Ablyazov has already fled justice in England, as well as Kazakhstan. He fled England in breach of an order that he remain there and on the eve of the English court sentencing him to prison for breaching other court orders. His continued detention in France is therefore essential to ensure that he does not flee again. That would have rendered worthless the 3 year French extradition process.
The Bank now looks forward to the decision of the Conseil D'etat, which will confirm whether Mr. Ablyazov should indeed be extradited to Russia, consistent with all the previous French court rulings on Mr Ablyazov and with the decree of the French Prime Minister ".
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