Swiss Prosecutor to Investigate Money-Laundering in Hermitage Case

Wall Street Journal

Switzerland’s prosecutor Thursday said it is investigating money-laundering allegations linked to Credit Suisse Group after a complaint by Hermitage Capital, following the 2009 death of the U.S. investment firm’s attorney while in Russian custody.

The November 2009 death in Butyrka prison of Hermitage attorney Sergei Magnitsky, who claimed to have unraveled a complicated scheme through which Russian interior ministry officers took control of three subsidiary companies formed by Hermitage, gained broad international attention and refocused Western concerns about corruption and the lack of judicial independence in Russia.

Earlier this week, a Russian court reopened a hearing into the alleged theft of hundreds of millions of dollars from Hermitage by Russian police.

“Due to the need to preserve confidentiality and to ensure the purpose of the investigation, no further details can be given at this stage, and in particular no information can be given in regard of any measures that have been taken or findings that have been made so far,” the Swiss prosecutor said in an emailed statement.

Mr. Magnitsky, who was 37 years old, was jailed shortly after the case became public and then accused of the very theft he alleged to have uncovered. Mr. Magnitsky began suffering from gallstones and other ailments while in prison and was denied treatment until the final days before his death.

In an emailed statement, Credit Suisse didn’t comment directly on the matter. “Credit Suisse complies with all applicable laws and regulations including those relating to antimoney laundering, sanctions and antiterrorist financing. Obligations include carrying out due diligence on clients, monitoring transactions and reporting any suspicious activities,” Credit Suisse spokeswoman Sally Rubery said in a statement.

“We are confident that we have a sound control framework with the necessary internal policies. Credit Suisse takes allegations against its compliance standards very seriously.”

Hermitage—founded in 1996 by the U.S. investor William Browder—has pursued the case even though it has effectively ceased operating in Russia. быстрые займы онлайн hairy girl https://zp-pdl.com/how-to-get-fast-payday-loan-online.php https://zp-pdl.com/apply-for-payday-loan-online.php микрозаймы онлайн