Russia's Ministry of Internal Affairs (MVD) has placed Belgian businessman Frank Joseph Monstrey on its criminal wanted list, after he had already been placed on the wanted list in Kazakhstan.
How Monstrey ended up on Russia's wanted list
According to the Telegram channel "Exit to the Sea", the Russian MVD placed Frank Joseph Monstrey on its criminal wanted list two months after the Anti-Corruption Service of the National Security Committee (ACS NSC) had done likewise.
The publication claims that Monstrey was added to the Russian MVD database on the recommendation of the NSC. It is not specified under which criminal case he is being sought. The Russian agency has also not disclosed details of the case.
WHAT IS KNOWN ABOUT THE LINKS TO BTA BANK
In Kazakhstan, Monstrey is known as a former investor in the oil company "Zhaikmunai", a subsidiary of Nostrum Oil & Gas.
In 2018, journalists at OCCRP reported that Monstrey's structures financed the offshore structures of Ilyas Khrapunov, son of former Almaty mayor Viktor Khrapunov and son-in-law of Mukhtar Ablyazov. According to the investigation, $440 million was transferred through offshore accounts, some of which was used to purchase property in the United States.
Monstrey himself claimed that he was repaying a debt to Ablyazov in this way. The legal dispute between Monstrey and BTA Bank ended in a settlement agreement, under which the bank received a stake in Nostrum Oil & Gas.
FINANCIAL POSITION OF NOSTRUM OIL & GAS
The main asset of the UK-registered Nostrum Oil & Gas is its subsidiary "Zhayikmunai", which develops oil and gas fields in western Kazakhstan.
In September 2025, the company defaulted on its bonds, and in June 2026 there was another default on restructured obligations. For 2025 as a whole, the company's loss reached $214.2 million.
It is noted that Kazakh tax authorities have assessed "Zhayikmunai" a tax arrears of $71 million. The company's shareholders have decided to sell its assets in Kazakhstan, including oil and gas fields and a gas processing plant.
WHAT IS KNOWN ABOUT A POSSIBLE LINK BETWEEN THE CRIMINAL CASE AND OTHER PROCEEDINGS
In August 2026, Kazakh media reported that Kenes Rakishev could become the new owner of Nostrum Oil & Gas. At the same time, a structure linked to the former BTA bank is pursuing legal proceedings against the Ablyazov and Khrapunov families.
