Kazakh Paper Co. Can Recoup Stolen £120M After Fraud
By Christopher Crosby (December 21, 2021, 5:36 PM GMT) -- A Kazakh paper conglomerate can seize some £120 million ($160 million) in property and cash connected to a massive fraud by its former boss, a London judge ruled on Tuesday after concluding that the assets were hidden to cheat creditors.
The High Court has said that Kazakhstan Kagazy can enforce a $300 million court judgment against assets siphoned off by its former chief executive. (iStock)
Judge Andrew Henshaw said in a 99-page judgment at the High Court that Kazakhstan Kagazy PLC could enforce a $300 million court judgment against assets siphoned from the company by its former chief executive, Maksat Arip.
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