In Almaty, the process continues on the case of ex-head of BTA Bank Mukhtar Ablyazov. At the next meeting, an episode was considered about lending to affiliated companies allegedly for the construction of a hotel complex in Georgia and buying a stake in a telecommunications company in that country.
According to the already classical scheme for BTA Bank and Mukhtar Ablyazov, in 2007, employees of the financial institute prepared documents for the company Medea Hotel Company B.V. As the investigation found out, this procedure was carried out to steal BTA Bank's funds.
In the same year, according to the scheme worked out in BTA Bank, an application was made from Medea Hotel Company B.V. to open a credit line in the amount of 42.5 million US dollars for the construction of the Medea Hotel and replenishment of working capital.
Naturally, there were no problems with its approval. The credit committee did not carry out examinations, did not check the borrower and his credit history. Employees of the bank knew perfectly well who the actual owner of the company-borrower, so the decision was made as soon as possible.
Soon the credit committee decided to increase the total credit limit from 42.5 to 69 million US dollars.
"There is no conclusion of the bank that contains an assessment of the borrower's ability to implement the goals and objectives defined in his business plan, a conclusion containing an assessment of the borrower's financial condition, a monitoring report on the target use of borrowed money and an analysis of the effectiveness of the refinanced loan, the credit repayment forecast and its appropriateness" Talgat Amantai, the representative of the injured party, said.
The issued loan, like many others, was not repaid. In total, according to Talgat Amantay, according to this scheme more than 20 million dollars were stolen from the Bank. It is noteworthy that the hotel in Georgia was not built either. In the end, all the money issued was abducted and spent by Ablyazov.
According to a similar scheme from the means of BTA Bank Ablyazov stole even more than $ 125 million. In this case, the front company Black Sea Telekom Holding B.V. acted as a borrower, the control over which was also established by Ablyazov's accomplices.
However, this time the purpose of financing was the acquisition of a stake in the authorized capital of the United Telecommunications Company of Georgia. The management of BTA Bank fully satisfied the loan application of the insolvent company. At the same time, money has not yet been returned, and the projects that have been credited in Georgia never yielded any dividends.
Ablyazov's interests in Georgia were not limited to two projects. In a very short period of time, BTA Bank, with the direct participation of Ablyazov, financed five more projects
So the company "Georgia tourists B.V." received more than $ 3 million to purchase land. Exactly 4 million dollars was given to the company "Kolhida Invest B.V." for the construction of the hotel and residential complex "Meskheti" in Batumi. Almost for 56 million dollars was procured "Tbilisi Hotel Holding B.V." with the purpose of buying real estate in Georgia. Another $ 10 million was financed by the company "Batumi Rivera B.V." for the acquisition of land and partial construction of facilities.
The largest loan of $ 78.7 million was issued to Tbilisi Central plaza B.V. For the acquisition of land and space, the implementation of design works, development, financing of administrative expenses and working capital. Thanks to Georgian projects, Ablyazov and his accomplices in total stole about $ 300 million.