Former Kazakh BTA Bank’s head flees UK

Azerbaijan, Baku, Feb. 28 / Trend E. Kosolapova/ The former Kazakh BTA Bank's head Mukhtar Ablyazov sentenced to 22 months in prison for contempt of court fled UK and is understood to be hiding in France, The Telegraph reported. Ablyazov left the country by coach at about the time he was sentenced at the High Court. The court heard how BTA "currently understands that he [Abylazov] has left the jurisdiction and traveled to France. "It is suspected that this was by coach and that he may have had the use of a passport that he failed to deliver up. It is not known whether he remains in France." The contempt ruling was in connection to an ongoing fraud case brought against Ablyazov by his former employer, Kazakhstan's BTA Bank. Mukhtar Ablyazov is alleged to have conducted $4.5 billion fraud while in charge of the bank. He fled to the UK after leaving the bank, claiming asylum against political persecution. The case against him alleges he misappropriated billions of pounds while in charge of BTA. In related cases, two other individuals - Paul Kythreotis, a business associate of Ablyazov, and Syrym Shalabayev, brother-in-law and associate of Ablyazov - have been sentenced to prison for contempt. Do you have any feedback? Contact our journalist at agency@trend.az