Posts Tagged ‘browder’
Russia-US stand apart over Magnitsky bill
The US senate is considering a resounding rap on the knuckles to Russia, in a bill that went before Congress on Thursday, lambasting the rule of law in Russia and condemning a raft of officials whom supporters of dead lawyer Sergei Magnitsky accuse of corruption and complicity in his death.
A bipartisan bill sponsored by 15 senators proposes to again freeze the assets and block visas of individuals who Washington sees as committing gross human rights violations against Russian human rights activists.
The Russian foreign ministry said the bill was “regrettable,” RIA Novosti reported.
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Senators propose hitting Russian ‘kleptocrats’ with sanctions after lawyer’s death
A bipartisan group of senators on Thursday introduced legislation that would sanction Russian officials involved in the 2009 death of a Russian lawyer who alleged that the government was involved in a tax fraud scheme.
The bill is a reaction to the death of Sergei Magnitsky, whose case has come to be seen as a symbol of corruption in the Russian legal system. Magnitsky was a Russian lawyer hired by an American law firm and who worked for Hermitage Capital.
Sen. Ben Cardin (D-Md.), the lead sponsor of the bill, said Magnitsky “blew the whistle on the largest known tax fraud in Russian history,” and named Russian officials involved in the plan to defraud Russia of about $230 million. Magnitsky was soon arrested, held in detention for almost a year with no trial, and died after suffering from untreated medical complications.
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Should investors avoid Russia, because of state interference
BBC World Service – Business Daily
Should investors avoid Russia, because of state interference, a flaky legal system, corruption and violence? Lesley Curwen talks to two foreign investors with opposing views. Hedge fund manager Bill Browder alleges his former lawyer, Sergei Magnitsky, was tortured and died in a Russian prison. Mr Browder, the CEO of Hermitage Capital Management says anyone contemplating investing in Russia should ‘lay down for a while and wait until the urge passes’ because it is ‘truly dangerous.’
Jochen Wermuth disagrees. He is founder of the “Greater Europe” investment funds which have invested over $1bn there. He argues Russia is changing, the population has had enough of corruption, and says ‘what makes us stay is the great opportunity to participate in the change.’ However he also admits things cannot get much worse. займ онлайн онлайн займы https://zp-pdl.com/emergency-payday-loans.php zp-pdl.com payday loan
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Bill Browder welcomes US action over Magnitsky death
A powerful group of US politicians has called for sanctions against Russians allegedly involved in a campaign against financier Bill Browder. Once one of Russia’s largest investors, he claims officials were complicit in a fraud against his firm and the death of lawyer Sergei Magnitsky.
Now Congressmen, including heavyweights Joe Lieberman and John McCain, propose banning the officials from the US.
Russia’s President Dmitry Medvedev has promised a full inquiry into the death.
The US politicians are backing new legislation put before Congress on Friday, The Sergei Magnitsky Rule of Law Accountability Act of 2011.
In 2005, Mr Browder, who runs fund manager Hermitage Capital, was banned from Russia as a threat to national security after allegations that his firm evaded tax. But Mr Browder says his company was targeted in a $230m (£140m) fraud, and has mounted a strong campaign to uncover what happened to the money and Mr Magnitsky, Hermitage’s lawyer.
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“Who knows where I will be soon”
The metal cage used for prisoners in courtroom No. 14 at the Tverskoi regional court was empty during a recent hearing, its door wide open. Moscow spring sunshine streamed through windows, their metal bars pushed aside.
There was no need for locks two weeks ago when the court considered the arrest of Ivan Cherkasov, a senior executive at British investment fund Hermitage Capital. Cherkasov lives in London and has no intention of returning to face the charges of tax evasion he says are false. He says his arrest is a counter attack by rogue forces in the Russian security services.
In a bold and surprising move just days before, an independent commission set up by President Dmitry Medvedev said that the charges in the case of Russian lawyer Sergei Magnitsky were fabricated by Interior Ministry officials and that Interior Ministry and FSB security service officers were at least partly responsible for Magnitsky’s death in 2009.
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U.S. Lawmakers Want Justice For Magnitsky
Last month, Rep. James McGovern, a Democrat from Massachusetts, introduced the “Justice for Sergei Magnitsky Act of 2011.” Two other Democrats and four Republican members co-sponsored the bill. It’s now pending before the House Judiciary Committee and the Committee on Financial Services.
Magnitsky was a lawyer in Moscow for William Browder’s Hermitage Capital Management, once the biggest foreign investor in Russia.
In 2005, the Russian government banned Browder from the country. Two years later, police and agents from the Ministry of the Interior raided Hermitage’s offices and those of its lawyers. They hauled away corporate documents and seals that were later used to defraud the Russian government out of a $230 million tax refund.
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Russian corruption scandal: A trail leads to Switzerland
Schweizer Fernsehen
A story like a thriller: A Russia lawyer, Sergei magnitsky, uncovers a huge tax fraud and accused Russian police officers and judges of being involved. Instead of investigating his claims, the police officers take him to prison, where he is being treated inhumanely and dies. A portion of the stolen money was laundered though banks accounts of Credit Suisse.
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Medvedev’s Big Presser Disappoints
President Dmitry Medvedev’s much-awaited first “big” news conference on Wednesday left hundreds of journalists and many pundits disappointed and confused.
With less than 10 months remaining before the 2012 presidential election, Medvedev shed no light on his plans. He didn’t even get asked about the election until a mind-boggling 15 minutes into the news conference — after taking questions that included one from an Avtoradio reporter about Moscow’s parking problems.
“Finally you asked the question,” Medvedev quipped when a Nezavisimaya Gazeta reporter asked whether he would run for a second term.
But to the noticeable disappointment of nearly everybody in the packed Skolkovo Business School hall, he dodged a direct answer, explaining instead that politics were governed by “certain technologies” that should be respected.
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Medvedev meets the press
Dmitry Medvedev, the blogging, tweeting, iPad-carrying president, gave his first full-scale news conference Wednesday, bringing 800 journalists to his favored tech-savvy business school, where the eternal Russia of the almighty czars was as powerful a presence as the high-speed Internet access.
Though Medvedev talks frequently of his vision for a modern Russia, with strong democratic institutions and a high-tech economy, he was given question after question suggesting little happens in this country unless the ruler in the Kremlin decrees it, just as it has always been.
Yearly car inspections are a senseless formality — how will you change this? (He’s drawing up a new law.) Local officials show you perfect villages — do you understand how people really live? (Yes, from blogging and reading the Internet.) Our veterans are suffering — can’t you guarantee each of them an apartment? (He issued a decree on that in 2008.) And what are you going to do about the parking problem in Moscow? (He has talked to the mayor.)
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