Alleged Kazakhstan Bayrock Money Laundering Scheme

Mukhtar Ablyazov the former Chairman of BTA Bank allegedly stole between $6–10 billion

  • In 2007 Bracewell & Giuliani advised BTA and TuranAlem Finance B.V. on $1 billion debt deal that may have been part of the scheme.
  • The revelation that funds were stolen occurred in 2009.

Viktor Khrapunov the former mayor of Almaty Kazakhstan allegedly stole $350 million

  • Leila Khrapunov — Viktor’s wife
  • Ilyas Khrapunov — married to Mukhtar Ablyazov’s daughter Madina
  • Elvira Kudryashova — Leila’s daughter and Viktor’s stepdaughter

Leila Khrapunov and Tevfik Arif set up Kazbay B.V. in the Netherlands with funding of $1.48 million

  • Kazbay B.V. was set-up by Rudy Giuliani’s firm Bracewell & Giuliani

Elvira Kudryashova allegedly used laundered funds to purchase three condos in Trump Soho for $3.2 million in 2014

Ilyas Khrapunov allegedly laundered stolen Ablyazov and Khrapunov funds with Tevfik Arif, Felix Sater, Daniel Ridloff

  • Swiss Development Group (SDG) partnered with Tevfik Arif’s Bayrock on Hotel du Parc in Geneva

The following complaint was filed by human rights organization AVAAZ related to the Khrapunov fraud and includes source notes and links.

(Note: the author was a consultant to AVAAZ on this complaint)

The story on Kazbay which was set-up by Bracewell & Giuliani was originally reported by McClatchy, Dutch broadcaster Zembla and the Organized Crime and Corruption Reporting Project:

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