Kazakh financial police initiates 8 cases against BTA Bank ex-head

The Kazakh Agency for Economic and Corruption Crime has initiated 8 cases against Mukhtar Ablyazov, ex-head of BTA Bank, ITAR-TASS cites spokesman of the agency Murat Jumanbay.

Ablyazov is suspected of financial violations and granting non-repayable loans to off-shore companies, causing economic loss of over $317 million.