UK Court Award Guilty Verdict in Landmark Asset-Disclosure Case

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The England & Wales High Court has sentenced the son of the wealthy Arip family estate to two years in prison for failing to attend court proceedings in the UK to asset-disclosure proceedings following a worldwide freezing order, amongst other charges such as being found in contempt of court.

An earlier EWHC judgment found that his wife Ms Sholpan Arip could be cross-examined on their assets (Kazakhstan Kagazy v Baglan Zhunus 2019). Mrs Arip’s Lawyers in the UK exposed that USD $25 million was in response to the freezing order, however the applicants stated that this failed to clarify what had been made of distributions to her from the USD $300 million in Arip family trusts.