Russian Investigative Committee Has Formally Exonerated Olga Stepanova, the Tax Official Who Approved the Fraudulent $230 Million Refund Uncovered by Sergei Magnitsky

November 8, 2013

8The Russian Investigative Committee has informed U.S. lawyer Jamison Firestone, Sergei Magnitsky’s former law partner, that it found no grounds to prosecute Olga Stepanova, the former head of Moscow Tax Office No 28, and the person who approved the majority of the $230 million illegal tax refund uncovered by the late Sergei Magnitsky. The Russian Investigative Committee has exonerated all other tax officials involved in approving the fraudulent tax refunds which cost Sergei Magnitsky his life for exposing.

“No evidence was obtained which is sufficient to charge O.G. Stepanova or other persons under Articles 286 or 285 of the Russian Criminal Code [overstepping authority or abuse of authority],” the Investigative Committee reported in their letter.
The Investigative Committee also said that it failed to question a number of witnesses.

“The investigative actions that are possible without an accused, have been completed except for a series of questioning of witnesses whose whereabouts have not been established,” said the Investigative Committee in its letter.

Earlier, the Russian authorities informed Jamison Firestone that they were not able to question two of Ms Stepanova’s deputies, Ms Olga Tsareva and Ms Elena Anisimova, because they had left the country. These were the same people who purchased luxury apartments in Dubai, along with Ms Stepanova’s ex husband Vladlen Stepanov, shortly after the approval of the illegal $230 million refund in December 2007.

Jamison Firestone filed a complaint seeking a criminal investigation to be opened into the tax officials, including head of Moscow Tax Office No 28 Olga Stepanova, on 15 April 2011, two years and a half ago. In his complaint, Mr Firestone cited evidence of their role in the approval of the fraudulent $230 million refund, and the use of illicit proceeds for foreign real estate purchases. During this time, the Investigative Committee has refused to conduct a proper investigation, and now informed him that they have effectively exonerated all the tax officials involved. Earlier, the investigative department of the Russian Interior Ministry informed Jamison Firestone that they also found no evidence of wrong-doing by the tax officials. Appeals to the General Prosecutor’s Office seeking to compel a proper investigation of tax officials in the Magnitsky case have been refused.

“All branches of the Russian law enforcement with direct supervision from the Russian General Prosecutor’s Office have exonerated the tax officials who were clearly involved in one of the largest refund frauds in Russian history. This can only be explained that the cover up is ordered and approved at the highest level of the Russian government,” said a Hermitage Capital representative.

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