Ex-Kazakh CEO Faces Jail Over $300M Fraud Award

Law360, London (August 27, 2019, 6:38 PM BST) -- The former chief executive of one of Central Asia’s largest paper and packaging manufacturers must appear before England’s High Court to explain why a $300 million fraud judgment against him remains unpaid or face two weeks in prison, a London judge has ruled.

In a ruling handed down Aug. 21, Judge Clare Moulder said Maksat Arip, the former chief executive and chairman of Kazakhstan Kagazy PLC, “intentionally failed” to attend court in July to answer questions over the debt.

“I am satisfied to the criminal standard that Mr. Arip has intentionally failed to attend the court … and that there can be said...

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