High Court rules that billionaire fraudster should lose three luxury properties
It is alleged that Kazakh businessman, Mukhtar Ablyazov, embezzled more than $6bn during his time as chairman of BTA Bank
Wednesday 22 May 2013
A billionaire fraudster is set to lose three of his luxury properties in Britain's most exclusive postcodes after a High Court ruling.
Kazakh businessman Mukhtar Ablyazov fled the UK on a Europe-bound coach last year after he was sentenced to 22 months imprisonment for contempt over failing to declare the full extent of his wealth.
It is alleged that he embezzled more than $6bn during his time as chairman of BTA Bank between 2005 and 2009, which he denies. The bank is now pursuing Mr Ablyazov in the High Court over 11 separate claims in a bid to recover its funds.
His whereabouts are currently unknown, but should Mr Ablyazov return to the UK he might find himself in far less comfortable surroundings than he's accustomed to.
Receivers KPMG have been given the go ahead to put properties worth a combined £41m up for sale.
The jewel in the crown is Carlton House, which was once his main UK residence. The 15,000-square-foot mansion is situated on the The Bishop's Avenue (often dubbed “Billionaires' Row”) in North London.
For £20m, buyers would get a 50-foot long ballroom for entertaining, nine bedrooms with Italian marble ensuites and a wood-panelled lift to be used should a journey up the sweeping oval staircase prove too strenuous.
Residents could enjoy a “heated mosaic swimming pool”, a 12-person Turkish bath and a library. The property also has a “Thunderbirds-style vehicle lift” which takes drivers from the forecourt to the underground four-car garage.
Hugo Thistlethwayte, of the Prime Purchase buying agency, said: “It's a very special road. It has very large detached houses with big gardens and it has always been favoured by international purchasers.”
Also up for sale is the 100-acre Oaklands Park estate in Egham, valued at £20m. It was formerly owned by US computer billionaire Michael Dell and comes with tennis courts and a helipad.
Mr Ablazyov's position is that he has never owned these two expensive properties, and that it was the Court that ruled that they are his.
His lawyers have also set in motion a claim against the UK at the European Court of Human Rights after he was debarred from defending the claims against him.
A more modest flat, in London's St John's Wood near Lord's Cricket Ground, has an estimated value of £900,000-£1.1m. It has a 24-hour porter service as well as a communal swimming pool and gym.
BTA Bank Managing Director Pavel Prosyankin, who is overseeing the asset recovery process, said in a statement: “This order is another important step forward in the Bank's effort to recover the billions of dollars in assets which Mr Ablyazov misappropriated while Chairman. We can now move to liquidate these assets. The Bank will continue to leverage the English High Court judgments to pursue assets across the globe.”
- 1 East 17 bandmember Brian Harvey in 'very desperate situation’
- 2 Is this bridge haunted by the ghost of nu rave?
- 3 Woman filmed launching racist tirade against men on the Tube for speaking in 'own lingo'
- 4 The West has it totally wrong on Lee Kuan Yew
- 5 Scientists have discovered a simple way to cook rice that dramatically cuts the calories
East 17 bandmember Brian Harvey in 'very desperate situation’
Vladimir Putin says Russia will fight for the right of Palestinians to their own state
Is this bridge haunted by the ghost of nu rave?
Woman filmed launching racist tirade against men on the Tube for speaking in 'own lingo'
Saudi Arabia says it won't rule out building nuclear weapons
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
JK Rowling responds to fan tweeting she 'can't see' Dumbledore being gay
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
David Cameron calls Labour 'hopeless, sneering socialists' while announcing 7-day NHS plans
The West has it totally wrong on Lee Kuan Yew
Revealed: Putin's army of pro-Kremlin bloggers
£6 per hour: Recruitment Genius: This is an exciting opportunity to join a gro...
Negotiable: Recruitment Genius: A Service Delivery Manager is required to join...
£12000 - £24000 per annum: Recruitment Genius: A opportunity has arisen for a ...
£32000 - £38000 per annum: Ashdown Group: A successful accountancy practice in...