25:
318:, a British Member of Parliament, named Utemuratov in a speech advocating for sanctions against Kazakh billionaires. Utemuratov was one of 30 oligarchs and members of the Kazakh elite who, Hodge claimed, had benefited from their ties to the Nazarbayev regime. Hodge said: “Bulat Utemuratov is a former chief of staff to Nazarbayev. A US diplomatic cable reported allegations that Utemuratov was the president’s "personal financial manager" and his own website assesses his personal wealth at $ 3.9 billion.”
86:
295:, Kazakhstan. Glencore loaned a total of $ 237 million to the project but the miner was forced to write off $ 96.5 million in 2018 after reported poor performance. Since that transaction, Utemuratov and Glencore have done several other deals together. In 2015, Glencore bought Utemuratov's Gulfstream private jet in an undisclosed transaction.
229:
From 2008 to 2013, Utemuratov, was described as an "adviser to the president" and held a role as a special representative to
Kyrgyzstan. This close relationship with Nazarbayev led to Utemuratov being given the nickname "the grey cardinal" in Kazakhstan. The Times quoted a spokeswoman for Utemuratov
310:
reported about the freezing of
Utemuratov's assets including stakes in luxury hotels, cash in bank accounts in half a dozen countries and a Burger King franchise, by a UK civil court on the claim of BTA Bank. According to a statement distributed by Verny Capital on 9 December 2020, the freezing
279:
Glencore's copper subsidiary shares held by Verny
Capital. In 2012, Glencore bought the Kazzinc shares back from Verny Capital for $ 1.359 billion, including $ 400 million in cash and the rest in Glencore shares. In 2013, Glencore-controlled zinc producer Kazzinc, acquired the
187:
Utemuratov was born in 1957. His father worked in the judiciary and was a prosecutor, and his mother worked as an accountant. Utemuratov graduated from the
Faculty of Economics of the Almaty Institute of National Economy in 1981.
830:
290:
In 2013, Glencore gave a loan to Astana
Property Management (APM), a company owned by Bulat Utemuratov via Verny Capital. The loan was to finance APM's construction of the Talan Towers hotel and apartment complex in
259:. Verny Capital is a majority shareholder in a gold mining company RG Gold, while 35 percent equity stake belongs to Resource Capital Funds, a US-based private equity fund. Utemuratov is the main shareholder of
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the Swiss-based mining and commodities company, announced its initial public offering (IPO) in London, the company said that some of the proceeds would be used to buy back the
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After
Utemuratov returned, he was made first deputy minister for external economic affairs. In 1995, Utemuratov, jointly with a group of partners, founded the
211:
Trade and
Finance (ATF) Bank; by 2007 he was its controlling shareholder. In 2007, Utemuratov, along with minority shareholders, sold ATF Bank to the Italian
625:
244:
After Samruk-Kazyna SWF closed a sale of its shares in
Temirbank and part of its shares in Alliance Bank to Utemuratov in May 2014, ForteBank was created.
626:"White & Case Advises Resource Capital Fund VII L.P. On Acquisition of 35 Percent Equity Stake in Kazakhstan Gold Mine | White & Case LLP"
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selected
Utemuratov to go to Vienna and find economic opportunities for the new republic. He helped broker Kazakhstan’s first line of credit with
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injunction of the
English Court in relation to the assets of Bulat Utemuratov had been revoked following a settlement between the two parties.
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saying he: "is neither a middleman, nor proxy for President Nazarbayev" and that he had not profited from his relationship with the President.
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226:. From 2003 to 2006 he was secretary of the security council and head of the presidential property management directorate from 2006 to 2008.
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banking sector. Subsequent reports suggested that Utemuratov and his family members made more than $ 1 billion from the sale.
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Please help improve this article by looking for better, more reliable sources. Unreliable citations may be challenged and removed.
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he also owned two telecommunications operators –"KarTel" in Kazakhstan and "SkyMobile" in Kyrgyzstan operating under the brand
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in Kazakhstan, was established. In 2020 Kassa Nova was acquiered by Freedom Holding Corp for an approximate $ 41 million.
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In 2012, Glencore's Kazzinc subsidiary bought a 56% in a private school called Haileybury Astana for $ 23 million.
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885:"Commons Chamber, Motion made, and Question proposed, Dame Margaret Hodge, Kazakhstan: Anti-corruption Sanctions"
846:"Kazakhstan Billionaires 'Named and Shamed' in U.K. Parliament by Senior Politician as Corruption Sanctions Near"
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in Kazakhstan from Verny Capital. As part of this transaction, Verny was given shares in Kazzinc, Kazakhstan.
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660:"Verny Capital to build $ 300 million tower complex in Astana: 18 June 2013, 16:55 - news on inform.kz"
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Utemuratov is married to Utemuratova (Baishuakova) Azhar Abzhamiyevna. He has two sons and a daughter.
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204:. In 1996 Utemuratov was appointed as ambassador to Switzerland, a position he held for three years.
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452:"Security Council — Official website of the President of the Republic of Kazakhstan"
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group for $ 2.3 billion. As of 2007, this transaction was the largest in the
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793:"U.K. Court Freezes Up to $ 5 Billion Tied to Alleged Kazakhstan Bank Theft"
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500:"Glencore bought jet from Kazakh dictator's sidekick Bulat Utemuratov"
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As of 2013, Utemuratov was a key investor of the projects managed by
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758:"Glencore takes $ 96m hit on loan to Kazakhstan's Bulat Utemuratov"
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After Kazakhstan became an independent country in 1991, President
612:"Kazzinc, Verny to Buy Kazakh Gold Producer for 30 Billion Tenge"
276:
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737:
Leroux, Marcus; Baldwin, Leigh; Ralph, Alex (20 February 2019).
922:"О награждении государственными наградами республики казахстан"
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712:"UPDATE 1-Kazzinc, Verny Capital buy two Kazakh gold deposits"
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867:"Kazakh Corruption 'Named and Shamed' in British Parliament"
394:"Kazakh Billionaire Said to Weigh Bid as State Sells Banks"
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739:"Glencore gave Kazakh dictator's ally big share in school"
544:"Glencore gave Kazakh dictator's ally big share in school"
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businessman, public figure, diplomat and philanthropist.
519:"Kazakh fund adds 29 pct of Kazzinc to stakes in miners"
675:"Glencore float could create Kazakhstan's richest man"
298:
Utemuratov sold his Glencore shares in December 2021
572:"Freedom Holding Corp. Acquires the Kassa Nova Bank"
736:
694:"Glencore in new deal to buy 18.91% Kazzinc stake"
369:"Kazakh Billionaire Says He's Got Nothing to Hide"
478:"Glencore's $ 7.6bn Kazakh business under threat"
937:
586:"The birth of a Kazakh banking empire: ATF Bank"
493:
491:
476:Orange, Richard; Ebrahimi, Helia (12 May 2011).
408:"The birth of a Kazakh banking empire: ATF Bank"
16:Kazakh businessman, diplomat, and philanthropist
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224:United Nations Economic Commission for Europe
136:Utemuratova (Baishuakova) Azhar Abzhamiyevna
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60:Learn how and when to remove this message
367:Gizitdinov, Nariman (13 November 2013).
222:In 1999, Utemuratov was a member of the
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517:Nurshayeva, Raushan (7 February 2013).
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902:Askhatova, Assel (6 October 2008).
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844:Dawkins, David (4 February 2022).
614:. Bloomberg L.P. 19 February 2013.
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982:
966:Recipients of the Order of Kurmet
791:Hope, Bradley (1 December 2020).
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865:Klein, David (8 February 2022).
498:Millard, Rachel (3 March 2019).
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251:investment group, together with
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673:Orange, Richard (6 May 2011).
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396:. Bloomberg L.P. 9 April 2013.
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175:; born 13 November 1957) is a
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956:Kazakhstani businesspeople
217:Central Independent States
157:Bulat Zhamituly Utemuratov
926:kazakhstan.news-city.info
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169:Болат Жамитұлы Өтемұратов
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183:Early life and education
308:The Wall Street Journal
282:Vasilkovskoye gold mine
233:After the 2009 crisis,
32:Some of this article's
434:"Press Releases 1999"
961:Ethnic Kazakh people
314:In March 2022, Dame
306:On 1 December 2020,
198:Nursultan Nazarbayev
797:Wall Street Journal
590:www.intellinews.com
412:www.intellinews.com
891:. 3 February 2022.
772:"Bulat Utemuratov"
718:. 19 February 2013
640:"Bulat Utemuratov"
302:Freezing of assets
202:Bank Creditanstalt
756:Millard, Rachel.
692:MacDonald, Alex.
628:. 8 January 2019.
546:. 12 August 2023.
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722:2 September
698:Marketwatch
461:23 November
418:23 November
125:Nationality
50:August 2022
37:may not be
940:Categories
596:9 November
378:6 November
343:References
235:Kassa Nova
114:Kazakh SSR
103:1957-11-13
971:Oligarchs
871:OCCRP.org
805:0099-9660
743:The Times
528:16 August
504:The Times
456:Akorda.kz
438:unece.org
261:ForteBank
213:UniCredit
831:Archived
273:Glencore
267:Glencore
39:reliable
889:Hansard
716:Reuters
523:Reuters
277:Kazzinc
177:Kazakhs
141:Website
851:Forbes
803:
777:Forbes
645:Forbes
338:(2002)
330:Awards
293:Astana
209:Almaty
192:Career
165:Kazakh
133:Spouse
128:Kazakh
161:Bolat
812:2020
801:ISSN
724:2022
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