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Ex-Mayor of Kazakh Capital Loses Bid to Toss BTA Lawsuit in U.S.

By Tony Seruga

A U.S. judge denied a request from a former mayor of Kazakhstan’s capital, Almaty, to throw out a lawsuit accusing him of “looting” $300 million from the city and laundering some of the money through investments, including real-estate projects in Manhattan.

The City of Almaty and Kazakh lender BTA Bank JSC sued Viktor Khrapunov in federal court in New York in 2015. BTA’s former chairman, Mukhtar Ablyazov, is also accused of being in on the scheme…

Ex-Mayor of Kazakh Capital Loses Bid to Toss BTA Lawsuit in U.S.

Categories : Private Equity

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