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“The team was recently visible advising on a number of pharmaceutical cases. Sources agree that the team is “moving in the right direction” and are particularly impressed by its work in the pharmaceutical sector”.

 

Lithuanian Court Refused Extradition to Ukraine of the Accused of Embezzlement of USD 6 bln

01.08.2016

On Friday, July 29, the Court of Appeal of Lithuania refused extradition to Ukraine and Kazakhstan of Syrym Shalabayev, accused of misappropriation and embezzlement of USD 6 bln.

It is reported by Ilyashev & Partners Law Firm representing the Ukrainian and Kazakhstani BTA Bank, the victims of the actions of Ablyazov-Shalabayev organized crime group.

In Ukraine, a citizen of Kazakhstan S. Shalabayev faced up to twelve years of imprisonment with confiscation of the stolen assets (over USD 6 bln) in favor of the budget of Ukraine (Art. 191(5) of the Criminal Code of Ukraine).

“Though refusing extradition, at the same time the Lithuanian court satisfied our application and recognized the previous order of the English court on recovery of damages in favor of the bank”, commented Roman Marchenko, Senior Partner at Ilyashev & Partners Law Firm. − The Bank will continue to use all legal means to return the stolen funds and request that now Lithuania itself sued Shalabayev for the crimes committed”.

Recall that S. Shalabayev and his brother-in-law – a former owner of BTA Bank Mukhtar Ablyazov, as well as other members of the organized crime group – are accused of infliction to the bank of losses totaling more than USD 6 bln. Activities of Ablyazov and his accomplices are under criminal investigation of law enforcement agencies of Ukraine, Kazakhstan, Russia, Cyprus, Latvia, Hungary and some other countries. Earlier, the English courts have already granted the claims of BTA against Ablyazov and his accomplices in the amount of more than USD 4 bln finding that the funds of the bank were stolen through more than 900 specially created off-shore companies.

In 2011, the English court sentenced Shalabayev to 18 months in prison. When sentencing Shalabayev the English court found that he “was a key figure in concealing the proceeds of crime”, and that being a beneficial owner of a number of companies through which the stolen money was laundered Shalabayev “gave instructions and participated in the administration of significant assets of such companies”. Shalabayev did not serve the sentence, disappearing from England, but at the request of Ukraine he was detained in Vilnius on July 28, 2015.

 
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