KK receives $315 million for extended freezing injunction against former director over fraud claim

BRUSSELS, March 8, 2018 (PPI Europe) -The London High Court has vindicated the fraud claims brought by members of Kazakhstan Kagazy (KK) against former CEO Maksat Arip and CFO Shynar Dikhanbayeva.

The claimants received an extended freezing injunction against Arip’s worldwide assets for the full judgment sum of $315 million, the company said in a statement.

“Costs were awarded to the claimants on an indemnity basis, reflecting both the serious nature of the frauds and dishonest defense put forward by the defendants,” KK said.

“This is a case which saw […] Arip and […] Dikhanbayeva engage in prolonged and major fraud involving substantial ...

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