The former Kazakh energy and trade minister, who became an opposition leader before fleeing the country over accusations he embezzled billions of dollars, was arrested Wednesday near the French Riviera resort of Cannes on a warrant issued by Ukraine.
Solange Legras, prosecutor at the local court handling his case, told AFP Ablyazov would likely be put in prison as authorities examine extradition requests against him and decide whether or not to send him away -- a process that will take at least 40 days.
Kazakh President Nursultan Nazarbayev has been at the helm of the ex-Soviet country for almost 22 years, bringing economic reforms and prosperity to the energy-rich nation but cracking down on political opponents and drawing accusations of rights violations.
Upon his release, Ablyazov returned to finance and led the Kazakh BTA Bank, but fled to Britain in 2009 amid accusations he stole billions of dollars in state and investor funds.
Three countries -- Kazakhstan, Russia and Ukraine -- have demanded his extradition.
Legras said France and Kazakhstan do not have an extradition agreement, and added Russia may no longer want to pursue him.
"So we are examining the extradition demand of Ukraine, where the BTA Bank also had some interests," she said.
Ablyazov was arrested on Wednesday in his home in Mouans-Sartoux, around 10 kilometres (six miles) outside Cannes.
"There was no violence. There had been some risks (of violence) as he is protected by a kind of private militia," Legras said, adding police had previously flown over his home to prepare the arrest.
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