ALMATY – The Bank of New York Mellon (BK.N) has frozen $22 billion in assets held by Kazakhstan’s National Fund over a lawsuit launched by Moldovan businessman Anatolie Stati and his companies against the Kazakh government, a source familiar with the case said on Thursday.
They have said that the value of their investments was affected negatively by the harassment, because Kazakhstan was hoping to take over the fields owned by them and was therefore trying to bring the price down.
Kazakhstan denies the allegations.
In October, Kazakhstan filed a civil racketeering lawsuit in the U.S. District Court in Washington, DC, against Anatolie and Gabriel Stati and two of their companies – Ascom Group S.A. and Terra Raf Trans Traiding Ltd., often collectively referred to as “the Stati Partners”. The lawsuit followed an international arbitration award of around $500 million that the Stati Partners won in an international arbitration court.