Newsweek: Where Vultures Prey
October 17, 2009
Last month Dmitry Medvedev set out his bold new vision of a “more civilized” Russia, no longer prone to the “legal nihilism” that has rotted the fabric of Russian capitalism and turned the courts and police into tools for settling private business disputes. Many hoped that such a powerful signal from the president would set Russia on course to establish the rule of law. Now, a high-profile test case will show who runs Russia — crooks with official connections, or the state itself. This week a criminal suit filed in a Moscow court details a scam in which senior bureaucrats, judges, and police defrauded the Russian taxpayer of half a billion dollars — and then used the courts to persecute the scam’s victims when they tried to blow the whistle.
CNBC: Raided by the Russians
October 16, 2009
William Browder’s firm was once the largest investor in Russia, but after the Russian government raided his business, its value is down to zero, with William Browder, Hermitage Capital Management CEO and CNBC’s Maria Bartiromo.
CNN: William Browder on corruption
October 14, 2009
Bill Browder is foremost amongst the doubters. His investment fund was once the biggest foreign investor in Russia, but he says his methods exposing corruption and poor corporate governance in the companies he invested in, angered the Russian authorities, got his assets seized and his visa revoked, though Russia has denied targeting him.
BILL BROWDER, HERMITAGE CAPITAL: As a long-term investment, Russia is too risky. As a short-term investment, there are many moments when it could make sense. But the problem with the Russia is you can’t predict whether your property will be left to its own devices or taken away at any moment because somebody wants it because it’s valuable.
Russian Corruption Claims Hit YouTube
October 13, 2009
William Browder, the founder of Hermitage Capital Management, found a new way to get his allegations of Russian corruption out to the public: YouTube. Browder spoke to CNBC about the strategy.
Browder, who claims to have been the victim of a corruption ring that took $230 million, has been fighting for his story to be heard for several years, with minimal success. If true, the case would amount to the biggest tax fraud in Russian history.
“We have a complicated story to tell about how the government stole our companies and then used our companies to steal $230 million from themselves — a bunch of crooks and government officials,” Browder told CNBC Monday.
To read the full story visit CNBC website: http://www.cnbc.com/id/33288392
Радио Свобода: Обвинения в интернете: история фонда Hermitage и дело против Сергея Магницкого
October 9, 2009
24 ноября прошлого года по подозрению в уклонении от уплаты налогов в крупном размере в Москве был арестован глава аудиторской компании Firestone Duncan Сергей Магницкий. В четверг, 8 октября, ему были предъявлены официальные обвинения. Клиентом этой компании был инвестиционный фонд Hermitage, когда-то самый крупный инвестиционный фонд в России, но уничтоженный после того, как его основателю и исполнительному директору Уильяму Браудеру было в 2005 году отказано во въезде в Россию. Любопытно, что при этом были возбуждены дела и против адвокатов фонда, которые сейчас находятся в Лондоне.
В четверг же фонд Hermitage выставил в Интернете видеорассказ, в котором утверждается, что дело против Магницкого было заведено как часть преступной кампании против фонда. Причем в ходе этой кампании были украдены деньги из российского бюджета. Глава фонда Hermitage Уильям Браудер дал интервью Радио Свобода.
For more information please visit