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Police instituted a criminal case related to misappropriation of BTA Bank funds by the prior management

News date: 6 October 2009

On 1 October, the Interior Department of Shevchenkivsky District of Kyiv satisfied the petition filed by Attorney at Law Ilyashev & Partners Law Firm on behalf of BTA Bank JSC (Kazakhstan) and instituted a criminal case on the fact of use of a knowingly forged document. By using the forged minutes of BTA Bank JSC (Kazakhstan) Board meeting, a number of acts oriented towards misappropriation of the Bank’s property were performed in Ukraine. Among other things, the forged document was used to unduly terminate the mortgage agreements and release of encumbrance, which existed as a security of multi-million loans invested in Ukrainian economy.

By using the forged minutes, nearly 40% shares in BTA Bank (Ukraine) were written off the Securities Account BTA Bank JSC (Kazakhstan). On 15 and 28 April 2009, BTA Bank PJSC, contrary to the court injunction held, a general meeting of shareholders, where they voted, amongst other things, 40% shares in BTA Bank PJSC (Kyiv), formerly written-off illegally in favour of 4 Kyiv-based LLCs. BTA Bank JSC appealed the decision of the said Meeting to the Commercial Court of Kyiv. The forged minutes were used to mislead the employees of the notary service and courts of justice. We should remind that part 3 Art. 358 of the Criminal Code of Ukraine provides for permit for deprivation of liberty of the guilty persons to 2 years. The forged minutes are signed by Zhaksylyk Zharimbetov, former Deputy Director of BTA Bank JSC, who is under international search in a number of criminal cases related to misappropriation of the bank’s funds.