Law360, London (July 7, 2021, 5:46 p.m. BST) – Kazakh paper conglomerate Kazakhstan Kagazy on Wednesday urged a London court to allow it to seize the proceeds of a $ 300 million fraud by its former boss it claims have attributed to a series of real estate and trust companies.
Robert Howe QC opened the Kazakhstan Kagazy PLC case, saying the company can trace funds stolen by former CEO Maksat Arip from a variety of property and assets held by companies within various Cypriot trusts for its benefit and that of his family.
Howe said Arip used the proceeds of his fraud to buy shares in a Russian oil company called Exillon …
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