Kazakh authorities still fighting to retrieve funds allegedly stashed in LA real estate
Family of former Almaty mayor Viktor Khrapunov allegedly bought several Beverly Hills homes with stolen funds
August 12, 2016 02:25PM
By Katherine Clarke
By Katherine Clarke
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| Viktor Khrapunov and the Studio City pad |
Kazakh authorities are still fighting to retrieve millions of dollars in funds allegedly stolen and then stashed in L.A. real estate, two years after a case was first brought against the alleged culprits, The Real Deal has learned.
The City of Almaty, the largest city in Kazakhstan, is continuing its appeal in a case filed in 2014 against Viktor Khrapunov, the city’s former mayor, alleging that he has his family abused his position of political power to systematically steal and loot money from Almaty, then conspired to transfer, launder and hide the money in the U.S.
The family allegedly used the proceeds to buy several L.A. homes, including a $3.65 million home at 2578 Hutton Drive in Beverly Hills in 2010, which it then resold for $4.97 million in 2014.
Other transactions being scrutinized include the $5.45 million purchase and subsequent sale of 606 North Alta Drive and the $6.2 million purchase and sale of 628 North Alta Drive, both in Beverly Hills, and the $5.7 million purchase and sale of 11986 Lockridge Road in Studio City. The Studio City property was later purchased by recording artist Bruno Mars.
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