About two years ago, a UK court sentenced Shalabayev to 18 months in prison. However, he went into hiding.
Shalabayev is suspected of squandering or pocketing a few billion US dollars worth of property in Kazakhstan, Ukraine, Russia and other countries together with his former brother-in-law, BTA Bank board chairman Mukhtar Ablyazov. Ukraine consequently called an international search for Shalabayev via Interpol channels. In Ukraine, the Kazakh national pocketed or squandered 300 million US dollars worth of assets.
He was detained in Vilnius in response to requests from Ukraine and the Interpol.