Almaty. July 11. KazTAG – Former chair of directors board of Alliance bank Margulan Seisembayev received a 2 year of suspended sentence by the verdict of Medeu district court on July 8, Azattyq radio informed.
The defender Pallada Tepsayeva said the court found Seisembayev guilty of illegal use of bank funds. “The prosecutor asked for 5 year imprisonment and the court decided to give 2 year of suspended sentence”, she specified.
In autumn 2009, Seisembayev, his brother Yerlan and a number of Alliance bank managers were accused of stealing funds from the bank.
Alliance bank is ranked 6-th among Kazakhstani banks in terms of assets. On April 13, 2009, the bank announced default on its obligations and its decision to restructure foreign loans. The creditors wrote off $3.5 bl debts out of total $4.5 bl.