Paris court stops criminal prosecution of disgraced Kazakh banker Ablyazov due to statute of limitations

The Paris Court of Appeal stopped the criminal prosecution of the fugitive Kazakh oligarch, ex-head of Bank Turan Alem JSC Mukhtar Ablyazov. Writes about it AFP with reference to a source in the judiciary.

According to the agency, the reason was that the statute of limitations for the money laundering and breach of trust case against Ablyazov had expired.

AFP clarifies that the court’s decision is not final, as the bank’s lawyers filed a cassation appeal against it.

Criminal cases against Ablyazov were initiated in Kazakhstan, Russia and Ukraine. He was accused of fraud, forgery and abuse of power. At home, Ablyazov is accused of embezzling $7.5 billion.

In November 2018, a court in Kazakhstan sentenced the disgraced banker in absentia to life imprisonment.