No matter how much damaging information civic activists or foreign investors have dug out, the fight against corruption will still depend entirely on the country leadership’s political will
WPS: What the Papers Say
On Monday May 16th, 2011, the lawyers of Hermitage Capital Investment Fund Managing Director William Browder attended the IAM Investigation Committee. According to Investigation Committee official representative Irina Dudukina, they were acquainted with the order on the prolongation of the investigation of the criminal case against their client. There is little doubt that all of this is a direct response to the actions of Hermitage Capital. As is known, some time ago Fund lawyers filed an appeal to the Prosecutor’s Office of Switzerland and thus began a criminal investigation of money laundering by Russian officials and members of their families. Representatives of the Fund argue that part of the funds stolen from the Russian budget have been placed on the accounts in Swiss banks. Earlier Fund lawyer Sergey Magnitsky, who was accused of tax evasion and died in prison in 2009, insisted on the investigation of that crime.
If William Browder, who now lives abroad, was interrogated by an investigator, probably he would have been behind the bars already, like it was with Magnitsky, and it cannot be excluded that he we would end up like his colleague.
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Interview of Hermitage Capital Investment Fund head William Browder on the case of Sergey Magnitsky and its aftereffects for the Russian economy
WPS: What the Papers Say
Vladimir Putin has failed to justify the hopes of investors on the establishment of clear rules of the game; he has created a terrible and destructive class of nomenclature oligarchy.
The case of the Hermitage Capital Investment Fund and the death of lawyer Sergey Magnitsky in a preliminary detention cell are similar to the case of YuKOS as viewed in terms of public response. Below is an interview of William Browder, head of Hermitage Capital.
Q. – We would like to set the record straight regarding the exposing videos and the freezing of certain personal bank accounts of Russian officials by the Prosecutor’s Office in Switzerland. Did Hermitage initiate those actions, and why were they launched?
A. – It was Hermitage Capital lawyers that filed an appeal to the prosecutor in Switzerland, and that appeal initiated the criminal investigation of money laundering of some Russian officials and members of their families – I believe it speaks for itself. “The Untouchables”, a film uploaded at youtube.com and released by friends and colleagues of Magnitsky, highlights in detail information of the enrichment by millions of dollars of the families of those officials, their real estate property abroad, and their personal bank accounts in Switzerland. The Swiss authorities have already launched a criminal case based on that information.
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Impudence and Impunity
Russia Profile.org
As Russia prepares for this year’s Economic Forum in St. Petersburg, the long-running saga of the Hermitage Capital Management will loom large in the minds of potential investors and could cast a shadow of uncertainty over Russia’s shaky investment climate. Last week, one of the individuals accused by the British hedge-fund firm of involvement in a $230 million tax scam, finally broke what looked like a sacred vow of silence.
In an interview with the Vedomosti business daily published on Friday, Vladlen Stepanov, the husband of a Russian tax official who allegedly embezzled millions through the tax rebate scam, denied any connection between his wealth and the fraud. He announced that he had filed a lawsuit to protect his honor, dignity and business reputation against the Echo of Moscow radio station, which aired the allegations, and against Jamison Firestone, a managing partner at Firestone Duncan who voiced them.
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In Russia, Prisons for Police Thrive
New York Times
NIZHNY TAIGIL, Russia — Like a scene from a felon’s daydream, all the inmates at a prison compound here in western Russia — some 2,000 of them — are former policemen, prosecutors, tax inspectors, customs agents and judges.
Most of the day, they mill about, glum-faced, dressed in prison clothes. The only visible hints of the policemen’s former employment are the occasional buzz cuts.
Russian penitentiary authorities offered a rare tour of this specialized penal colony recently with an eye to demonstrating that these inmates receive no privileges.
In some ways, the officials proved their point. At least as far as accommodations go, the prison is as grim as most. Inside the walls of unpainted concrete slabs, barbed wire slashes the prison yards into zones for those doing hard time and minor offenders. And like the men and women they put behind bars, former police officers here live in rough-hewn brick barracks, toil in a workshop and eat boiled buckwheat and cabbage.
But the tour of the prison, Correctional Colony 13, also underscored a point that the authorities might not have intended to highlight: most of the inmates are here for work-related infractions, from accepting bribes to attacking suspects.
As Andrei V. Shumilov, a former detective, said of his conviction for beating a suspect with his fists during questioning: “I was investigating a crime, and I committed a crime myself.” By way of justification, he mumbled that the man had suffered only “damage to soft tissue.”
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Senators Cardin and McCain Discussion on Magnitsky Act & Rule of Law in Russia
US Senate
Senators Benjamin Cardin and John McCain colloquy on the Senate Floor – Discussion on the “Sergei Magnitsky Rule of Law Acountability Act of 2011” and the Rule of Law in Russia – May 26, 2011
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BP-Rosneft Shows Russia Is ‘Not Investable’: Browder
The collapse of a BP share-swap deal with Russian state oil company Rosneft is just one of a string of failures which show that Russia is “uninvestable”, according to William Browder, once the country’s largest portfolio investor.
BP’s [BP 44.71 0.34 (+0.77%) ] proposed tie-up with Rosneft fell through after an agreement could not be reached with Alfa Access Renova (AAR) — a consortium of local billionaires who had a pre-existing joint venture with the oil giant, TNK-BP – to break an earlier contract.
BP had been hoping to work with the state-owned company to explore and develop assets in Russia’s arctic regions.
“What this story shows is the long and sad tale of BP in Russia, and how they’ve basically encountered problems at every single turn in their quest to get Russian oil reserves,” Browder told CNBC.com.
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Lawmakers introduce Russian “reset”; Russian political prisoners’ appeal denied
Mikhail B. Khodorkovsky, the imprisoned former oil tycoon, lost an appeal of his second conviction for fraud Tuesday, but his sentence was cut by a year and now will end in 2016.
Khodorkovsky and his business partner and fellow defendant, Platon Lebedev, had been convicted in December of embezzling nearly $30 billion from Yukos, the oil company they ran. Khodorkovsky had antagonized Russian Prime Minister Vladimir Putin, and the charges were widely considered not only politically motivated but also legally dubious.
Khodorkovsky, to the applause of the courtroom crowd, had this stem-winder statement on the court’s ruling:
In what dusty cellar did they dig up that poisonous Stalinist spider who wrote this drivel?
What kind of long-term investments can one talk about with such justice?
No modernization will succeed without a purging of these cellars.
The authors of the verdict have shown both themselves and the judicial system of Russia in an idiotic light, having declared in a high-profile, public trial that in Russia injured parties from a theft receive a profit, that the aspiration to increase it is a crime, that the “right” prices for oil in Siberia must be equal to the prices in Western Europe, transportation, customs duties and restrictedness of export notwithstanding.
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Swapping Jackson-Vanik for Magnitsky
Relations between Cold War-era foes Moscow and Washington have long been distrustful, hypocritical, peppered with mutual insinuations and patched together with the most tenuous of threads. But now, on the eve of State Duma and presidential elections, an inevitable crisis in relations is nearing that threatens to tear them apart at the seams.
Last week, a group of 15 U.S. senators formally introduced a bill targeting Russians for human rights violations and corruption, including 60 officials connected to the jail death of Hermitage lawyer Sergei Magnitsky. The bill would ban them from entering the United States and freeze any U.S.-based assets.
Chances are high that the bill will be passed. The sanctions against corrupt officials and criminals-cum-politicians could serve as a replacement for the Jackson-Vanik amendment that has long been in need of repeal. When U.S. Vice President Joe Biden met with Russian opposition leaders during his visit to Moscow in March, he told us that support was growing on Capitol Hill for new sanctions against Russian crooks and thieves that could replace the old Cold War-era law.
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President Dmitry Medvedev Craves a New Economic Order Both at Home and Abroad
While an international legal forum is hardly the perfect setting for delving deep into the intricacies of economic governance, in Russia’s highly convoluted regulatory environment the exception is quite often the rule. As in many international discussion forums hosted by Russia lately, economic issues loom large at the St. Petersburg International Legal Forum that kicked off on Friday. “We now need to start discussing new advanced standards in banking, finances and accounting, and common corporate governance standards,” Russia’s President Dmitry Medvedev told participants in a keynote address on Friday.
The three-day legal forum, organized to discuss the role of law in the innovative and safe development of global peace, was attended by nearly 500 legal experts and politicians that included Thorbjorn Jagland, the secretary general of the Council of Europe, Cecilia Malstrom, EU Home Affairs commissioner and Hans van Loon, secretary general of the Hague Conference on Private International Law. Akira Kawamura, the president of the International Bar Association and former German Chancellor Gerhard Schröder also attended the forum, which was organized at the behest of the Russian president.
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To learn more about what happened to Sergei Magnitsky please read below
- Sergei Magnitsky
- Why was Sergei Magnitsky arrested?
- Sergei Magnitsky’s torture and death in prison
- President’s investigation sabotaged and going nowhere
- The corrupt officers attempt to arrest 8 lawyers
- Past crimes committed by the same corrupt officers
- Petitions requesting a real investigation into Magnitsky's death
- Worldwide reaction, calls to punish those responsible for corruption and murder
- Complaints against Lt.Col. Kuznetsov
- Complaints against Major Karpov
- Cover up
- Press about Magnitsky
- Bloggers about Magnitsky
- Corrupt officers:
- Sign petition
- Citizen investigator
- Join Justice for Magnitsky group on Facebook
- Contact us
- Sergei Magnitsky
