ID: ARW-102
Kazakhstan Oil Mining / James Giffen - Mercator Corporation (United States)
Pursuant to an Amended Memorandum of Understanding signed in May 2008 by the Governments of Kazakhstan, Switzerland and the United States, $84 million were to be returned to Kazakhstan. The funds were to be used to establish the BOTA Foundation, with its operations overseen by the World Bank. (Source: Amended Memorandum of Understanding by the Swiss Confederation, United States and the Republic of Kazakhstan (May 2008)
According to the BOTA Foundation Independent Auditor's Report and special financial statements for the year ended 31 December 2013, the BOTA Program is funded with US$ 115 million (principal and interest) held on account No. T-94025 with Pictet and Cie in Switzerland in the name of the Treasury of the Ministry of Finance of the Republic of Kazakhstan. The Foundation subsequently announced that it had completed its mission and ceased operations. (Source: BOTA Foundation Final Summative Report, February 12, 2015)
In addition, as part of their August 6, 2010 plea agreements, U.S. citizen James Giffen and The Mercator Corporation relinquished any right or title they may have to additional Swiss accounts. (Sources: U.S. v. Approximately $84 million on deposit in account no. T-94025 in the name of the Treasury of the Ministry of Finance of the Republic of Kazakhstan, Case No. 2:07-cv-03559-LAP (S.D.N.Y.); August 6, 2010 plea agreements and information in U.S. v James H. Giffen, Case No. S4 03 Cr. 404 (WHP) and U.S. v The Mercator Corporation, Case No. S3 03 Cr. 404 (WHP) (S.D.N.Y.))
The prosecuting authority/civil attorney(s) were the U.S. Attorney for the Southern District of New York; Department of Justice, Fraud Section; Department of Justice, Criminal Division, Asset Forfeiture and Money Laundering Section.
The court involved was the U.S. District Court for the Southern District of New York.
The legal basis for international cooperation was a Memorandum of Understanding.
Assets returned
Memorandum of Understanding
| Document Title | Size and Format | Document Type | |
|---|---|---|---|
| Bota Fdn Annual Report 2012 0. | 5.1 MB pdf | International/multilateral organization report | Download |
| Bota Fdn Indep Audit Dec 31 2012 0. | 2.06 MB pdf | International/multilateral organization report | Download |
| Kazakh Oil Bota Audit Report 2013 0 | 3.2 MB pdf | International/multilateral organization report | Download |
| Kazakh Oil BOTA Fdn End Announcement Dec 2014 0 | 113.95 KB pdf | Government report / press release | Download |
| BOTA Foundation Final Summative Report, February 12, 2015 | 1.22 MB pdf | International/multilateral organization report | Download |