Stop the Untouchables. Justice for Sergei Magnitsky.

Hermitage Fund’s William Browder

Bloomberg / Business Week

The Hermitage Fund founder and former Putin ally on how exposing corruption in Russia upended his business and changed his worldview.

My grandfather was the general secretary of the American Communist Party. And as I was finishing business school in 1989, I had a romantic attraction to the Soviet Union as it was opening for business. As an investment banker in 1992, I went to the Russian town of Murmansk to advise the managers of a state-owned fleet of 100 ships. Each ship cost $20 million, but the managers were being offered the chance to buy 51 percent of the entire fleet for $2.5 million. I realized that to make money in Russia, you had to invest directly in assets that were being privatized. In 1996, I moved to Moscow and set up the Hermitage Fund, which became the largest foreign investment fund in the country.