Kazakh Businessman, Brother Sought For Embezzlement

The former chairman of Kazakhstan's Alliance Bank, Margulan Seisembaev, is being sought internationally on suspicion of embezzlement of at least $100 million, RFE/RL's Kazakh Service reports.

Friday, October 30, 2009

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ASTANA -- The former chairman of Kazakhstan's Alliance Bank, Margulan Seisembaev, is being sought internationally on suspicion of embezzlement of at least $100 million, RFE/RL's Kazakh Service reports.

Murat Jumanbay, a financial police representative, said at a press conference on October 28 that the court has issued an arrest warrant in absentia for Seisembaev and his brother, Erlan Seisembaev, and declared that an international search for them has begun.

Margulan Seisembaev had previously told RFE/RL that he was abroad on vacation and that he would return to Kazakhstan on August 30. But he has remained outside the country at an unknown location.

The former CEO of the Alliance Bank and the Eurasian Bank, Zhumart Yertaev, was arrested on a similar charge in August.

Copyright (c) RFE/RL, Inc. Reprinted with the permission of Radio Free Europe/Radio Liberty, 1201 Connecticut Ave., N.W. Washington DC 20036.

Filed under geopolitics, embezzlement, kazakh businessman brother sought

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