The United Kingdom had frozen all assets of the notorious Kazakhstani oligarch Bulat Utemuratov. The decision to freeze the assets and thus to prevent them from moving beyond the crown control came from the Business and Property courts of England and Wales. Dozens of funds and companies are put on under special conditions including “Verny Capital”, the umbrella company of the multi-billion Bulat Utemuratov’s empire, a chain of luxurious hotels in Europe, several major Kazakhstan companies and even the Burger King franchise in Central Asia.
Bulat Utemuratov himself has been put under house arrest. He remains in Kazakhstan. There is little known about the nature of the allegations. Perhaps in this case there are too many. Bulat Utemuratov is known for highly suspicious activity for decades of being a closest ally of the regime in Kazakhstan.
There is five billion USD worth under freezing order now. Although the exact sum of the claim is unknown, losing the case is fatal for Bulat Utemuratov. BTA Bank, the plaintiff, is in the process of reclaiming the assets scattered all over the globe due to the former owner affair. The Kazakhstan state was forced to bail it out and paid billions to foreign investors. Once the prosecution will prove that one of those who defrauded the state was an ex-statesman and one of the richest people in Kazakhstan the hell will break loose. Bulat Utemuratov will get under the wheels of McMafia and anti-money laundering legislations, corruption probes associated with his uncanny relations with Glencore mining corporation and even UniCredit affair dating back to early 2000s.
Although Bulat Utemuratov will unlikely go to prison in Kazakhstan. But the perspective of being ripped off most of his assets and returning to the meat shop where he started his career is more than real.