Hermitage, once the biggest portfolio investor in Russia, has accused Pavel Karpov, a 32-year-old police investigator, of being part of a gang of corrupt policemen who allegedly defrauded the Russian state of $230m (£153m) using two stolen subsidiaries of the hedge fund.

It claims he was then complicit in a cover-up that led to the agonising death in prison of Hermitage’s lawyer, Sergei Magnitsky, in November 2009.

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