BTA Bank filed suit in 2016 in U.S. federal court in Virginia against the sister of Ablyazov, Gaukhar Kussainova, for allegedly receiving millions in funds originating from BTA Bank. The BTA Bank claim against Kussainova in federal court is that she received more than $6 million of stolen BTA Bank funds from Ablyazov and used the stolen monies to buy business and real estate assets in the USA. Gaukhar Kussainova is the owner of a 7,349 square foot house on a 40,000 square foot lot valued at more than $2.1 million in Fairfax, Virginia.
Docket No: 191126 (filed 27 August 2019)
Current status of case: the Supreme Court of Virginia confirmed the judgment against Kussainova and denied her appeal. The original claim was for fraudulent conveyance of more than $6.5m and the evidence included an expert tracing analysis performed by the Receivers showing that more than $6m of funds stolen by Ablyazov made its way from BTA Bank to Kussainova through a series of international wire transfers from sham BVI companies’ Latvian bank accounts. Kussianova admitted at trial that she provided no consideration for these transfers, and that she was an active participant in efforts to conceal their true nature, including through the execution of false “loan” documents, the receipt of falsified banking records, and the manufacture of years-after-the-fact “gift letters” purportedly from her brother, written in English, a language he does not speak. These funds were then used to purchase property in Virginia.
Links to judgments to follow