Ex-Kazakh CEO Gets 2 Years For Shielding Watch Collection

Law360, London (August 29, 2019, 3:28 PM BST) -- The former head of Kazakhstan Kagazy found to have swindled the recycling company out of $200 million was sentenced to two years in prison Thursday for his “flagrant” breach of an order to hand over an expensive wristwatch collection.

High Court Judge Stephen Phillips found Kazakhstan Kagazy PLC’s former shareholder and CEO Maksut Arip in contempt of court for failing to deliver the watch collection, including a Richard Mille timepiece worth $225,000, as partial payment of a $300 million fraud judgment against him.

“There is a flagrant breach and disobedience of the court order with no attempt to explain that disobedience,”...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS