DUSHANBE, January 13, 2009, Asia-Plus — Tajik authorities have dropped criminal cases against ex-director of the Tajik aluminum smelter Abduqodir Ermatov and owner of Ansol Limited Avaz Nazarov following Tajik Aluminum Company’s (Talco) decision to withdraw its claim against Ansol, Prosecutor General Bobojon Bobokhonov announced at a press conference in Dushanbe on January 13.
He added that Ermatov and Nazarov would not be not be prosecuted any longer and they might visit Tajikistan without any problems.
As it had been reported earlier, Talco on November 27 2008 withdrew its claim against Ansol, company controlled by Avaz Nazarov, a Tajik national who lives in London.
We will recall that Ansol Limited – Guernsey registered company owned by Avaz Nazarov, for the purpose of supplying raw materials to the aluminum industry. Ansol entered into the joint venture with Rusal (Russian Aluminum) to supply alumina to Tajik aluminum plant and to finance the plant in return for aluminum to sell on the world market.
In a statement released the same day, Talco said that both parties had reached a settlement and that proceedings in the High Court in London had been terminated with no admission of liability by either side.
In the meantime, Times Online reported that it had been one of the most expensive lawsuits in British history and it had been settled after three years of bitter accusations and tens of millions of pounds spent on legal fees.
The months-long trial over alleged corruption and bribery at the Tajik aluminum smelter resumed in the High Court in London on October 27. Talco claimed the former director of the smelter, Abduqodir Ermatov, had accepted lavish bribes from its main supplier of alumina. Mr. Ermatov was accused of receiving about $15 million in benefits for entering into allegedly inflated contracts with companies controlled by Avaz Nazarov, a Tajik national who lives in London and still ranks as one of Central Asia’s richest men. Mr. Ermatov, Mr. Nazarov and several other defendants denied wrongdoing and pursued their own multi-million pound counterclaim.
Rusal, controlled by Oleg Deripaska, was accused in the High Court of knowingly participating in a “grubby” scheme that allegedly divested the Tajik aluminum smelter of hundreds of millions of dollars. Lawyers representing Talco characterized Rusal and Mr. Deripaska as important players in the alleged conspiracy.”
