BTA has filed 11 charges of fraud against Ablyazov and has already won court approval to seize US$3.7 billion from the former chairman. Ablyazov lived in Russia from 2003 to 2005 where he is wanted on charges of fraud, money laundering, and document forgery.
Ablyazov formed the opposition party Democratic Choice in Kazakhstan in 2001. He was sentenced to six years in prison the following year for alleged abuse of power. Following an outcry from Western governments and NGOs he was pardoned in 2003 on the condition that he renounce politics.
In 2005 Ablyazov became the chairman of BTA. Under his reign the bank grew to be the largest in Kazakhstan but he struggled to maintain control until BTA was forcibly nationalized in 2009. The bank is now deeply in debt with non-performing loans making up 81% of its portfolio.
Ablyazov alleged that he survived assassination attempts in Kazakhstan and Russia and that someone attempted to kidnap his son from school. In May, Italian authorities controversially deported his wife and six-year-old daughter to Kazakhstan. The Italian government later revoked the expulsion citing abnormalities with the process.
French court officials, who confirmed that the arrest warrant came from Kiev, indicating that Ablyazov will be extradited to Ukraine where a BTA partner bank is operated.
