Yerkyn v. Yakovlevich

CourtCourt of Appeals for the Second Circuit
DecidedJanuary 16, 2026
Docket24-2962
StatusPublished

This text of Yerkyn v. Yakovlevich (Yerkyn v. Yakovlevich) is published on Counsel Stack Legal Research, covering Court of Appeals for the Second Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Yerkyn v. Yakovlevich, (2d Cir. 2026).

Opinion

24-2962 Yerkyn v. Yakovlevich

United States Court of Appeals For the Second Circuit

August Term 2024

Argued: April 10, 2025 Decided: January 16, 2026

No. 24-2962

AMIRKHANOV YERKYN,

Plaintiff-Appellant,

v.

KLEBANOV ALEXANDR YAKOVLEVICH, KAN SERGEY VLADIMIROVICH, NATIONAL SECURITY COMMITTEE OF THE REPUBLIC OF KAZAKHSTAN,

Defendants-Appellees.

Appeal from the United States District Court for the Eastern District of New York No. 23-cv-2399, LaShann DeArcy Hall, Judge.

Before: WESLEY, SULLIVAN, and PARK, Circuit Judges.

Plaintiff Amirkhanov Yerkyn (“Amirkhanov”), a Kazakhstani businessman who alleges that he was wrongfully detained and coerced into signing a series of unfavorable business agreements in order to secure his release from prison in Kazakhstan, appeals from a judgment of the district court (LaShann DeArcy Hall, Judge) that (1) dismissed his claims against the National Security Committee of Kazakhstan (“NSC”) and others who allegedly orchestrated the coercive agreements, and (2) denied him leave to replead violations under the Racketeer Influenced and Corrupt Organizations (“RICO”) Act, 18 U.S.C. §§ 1961–1968. On appeal, Amirkhanov challenges the district court’s determination that the proposed second amended complaint (“SAC”) was futile because Amirkhanov did not adequately allege a domestic injury under the RICO statute. Although we conclude that the district court erred in its determination that the lack of a domestic injury deprived it of subject-matter jurisdiction over the claims contained in Amirkhanov’s SAC, we nonetheless hold that (1) the district court lacked subject-matter jurisdiction over all claims brought against the NSC, since it is an instrumentality of a foreign sovereign, and therefore not subject to any exception under the Foreign Sovereign Immunities Act, 28 U.S.C. §§ 1330, 1602–1611, (2) Amirkhanov failed to state a claim against the remaining Defendants, and (3) any amendment would have been futile. We therefore AFFIRM the judgment of the district court.

AFFIRMED.

IRINA SHPIGEL, Shpigel Law P.C., Brooklyn, NY, for Plaintiff-Appellant.

PAUL R. NIEHAUS (Craig Tarasoff, on the brief), Kirsch & Niehaus PLLC, New York, NY, for Defendants-Appellees Klebanov Alexandr Yakovlevich and Kan Sergey Vladimirovich.

KEVIN A. MEEHAN (Joseph D. Pizzurro, Matthew W. Henry, on the brief), Curtis, Mallet- Prevost, Colt & Mosle LLP, New York, NY, for Defendant-Appellee National Security Committee of the Republic of Kazakhstan.

2 RICHARD J. SULLIVAN, Circuit Judge:

Plaintiff Amirkhanov Yerkyn (“Amirkhanov”),1 a Kazakhstani businessman

who alleges that he was wrongfully detained and coerced into signing a series of

unfavorable business agreements in order to secure his release from prison in

Kazakhstan, appeals from a judgment of the district court (LaShann DeArcy Hall,

Judge) that (1) dismissed his claims against the National Security Committee of

Kazakhstan (“NSC”) and others who allegedly orchestrated the coercive

agreements, and (2) denied him leave to replead violations under the Racketeer

Influenced and Corrupt Organizations (“RICO”) Act, 18 U.S.C. §§ 1961–1968. On

appeal, Amirkhanov challenges the district court’s determination that the

proposed second amended complaint (“SAC”) was futile because Amirkhanov

did not adequately allege a domestic injury under the RICO statute. Although we

conclude that the district court erred in its determination that the lack of a

domestic injury deprived it of subject-matter jurisdiction over the claims contained

in Amirkhanov’s SAC, we nonetheless hold that (1) the district court lacked

subject-matter jurisdiction over all claims brought against the NSC, since it is an

1In accordance with Kazakhstani naming conventions, the caption lists each individual party’s family name first followed by his given name and, if applicable, middle name. Accordingly, we refer to Plaintiff as Amirkhanov.

3 instrumentality of a foreign sovereign, and therefore not subject to any exception

under the Foreign Sovereign Immunities Act (“FSIA”), 28 U.S.C. §§ 1330, 1602–

1611, (2) Amirkhanov failed to state a claim against the remaining Defendants, and

(3) any amendment would have been futile. We therefore affirm the judgment of

the district court.

I. BACKGROUND

Amirkhanov, his wife, and Defendants Klebanov Alexandr Yakovlevich

and Kan Sergey Vladimirovich (the “Individual Defendants”) were the sole

shareholders of an influential energy company in Kazakhstan called Central Asian

Power-Energy Company (“CAPEC”). 2 Founded during the privatization of

Kazakhstan’s economy in the 1990s, CAPEC now provides electricity to almost all

northern Kazakhstan; it is valued around $450 million. In 2004, CAPEC acquired

Eximbank of Kazakhstan (“Eximbank”), at which time Amirkhanov became

chairman of the bank’s board.

During Amirkhanov’s five-year tenure as chairman of Eximbank – but

without his knowledge – the Individual Defendants misappropriated funds held

2Because this case comes to us on an appeal from a motion to dismiss, “we accept the material facts alleged in the complaint as true and draw all reasonable inferences in favor of the plaintiff.” In re Nine W. LBO Sec. Litig., 87 F.4th 130, 140 (2d Cir. 2023).

4 in Eximbank’s account with the Federal Reserve Bank of New York, which they

transferred to other accounts held at various intermediary banks in New York.

The Individual Defendants then further disguised these funds by using fictitious

loans to shuttle them to companies they controlled, including a Dubai-based entity

called Lodestar Holdings Limited (“Lodestar”) and a U.S.-based company named

Forte Marketing, LLC (“Forte”). Along the way, the funds were used to pay back

a Russian billionaire who had helped bribe Kazakhstan’s then-president,

Nursultan Nazarbayev. The loans were also used to bribe Karim Massimov, a

former prime minister of Kazakhstan who later served as the head of the NSC, a

Kazakhstani intelligence agency that investigates and prosecutes crimes “related

to [] matters of [the] security and sovereignty of the state.” J. App’x at 41. 3

The SAC alleges that as Eximbank’s financial position became increasingly

precarious, the Individual Defendants conspired with Massimov to frame

Amirkhanov for the bribes and theft of bank assets. In May 2018, the NSC arrested

Amirkhanov in Kazakhstan and charged him with bribery. During his three-

month detention, Amirkhanov was subjected to “psychological torture” and

coerced into signing a series of unfavorable business agreements to secure his

3 Massimov was subsequently sentenced to 18 years’ imprisonment for corruption-related offenses.

5 freedom. Id. at 42. Those agreements included (1) the transfer of his CAPEC

shares to the Individual Defendants in exchange for their worthless Eximbank

shares, (2) Amirkhanov’s personal assumption of all debts and obligations of

Eximbank, and (3) as relevant here, the waiver of “all claims against any

organizations[] [or] [] employees of the CAPEC group of companies, Eximbank

Kazakhstan JSC, [and] Lodestar Holding Limited.” Id.

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