Southern District of New York Rules Against Ilyas Khrapunov

The U.S. District Court for the Southern District of New York has found Ilyas Khrapunov guilty of contempt of court. The ruling came in a case filed by Almaty and BTA Bank, Orda.kz reports, citing Kazakhstan’s Ministry of Justice.

The court determined that Khrapunov violated an order requiring him to provide regular reports on his assets. He must now submit full information about his money and property or face additional sanctions.

In addition, Ilyas Khrapunov has been ordered to reimburse the plaintiffs’ legal costs.

Ilyas is the son of former Almaty akim Viktor Khrapunov and the son-in-law of former BTA Bank Chair Mukhtar Ablyazov. Kazakh authorities accuse both men of large-scale embezzlement and money laundering.

Almaty and BTA Bank have filed lawsuits in the U.S. and Europe, accusing Ablyazov, his relatives, and associates of moving billions of dollars through shell companies and offshore structures. Khrapunov Jr. is considered to be one of those involved in the scheme.

The last hearings in the case were held in June last year. The main defendant was U.S. citizen Felix Sater, who faced multiple charges, including “illegal appropriation of property” and “unjust enrichment.” 

Original Author: Artyom Volkov