Thursday, 2 October 2014
Last updated 17 hours ago
Dec 29 2009 | 10:16am ET
An independent Russian human rights group is blasting the treatment of hedge fund lawyer Sergei Magnitsky, who died in a Moscow prison last month.
The Moscow Public Oversight Commission, which is charged with monitoring human rights conditions in Moscow’s jails and prisons, accuses authorities of exerting undue pressure on Magnitsky because they lacked “sufficient evidence to prove his guilt.” Magnitsky, who represented British hedge fund Hermitage Capital Partners, had been charged with tax evasion and was arrested shortly after he accused Russian officials of stealing hundreds of millions from Hermitage.
The MPOC said Magnitsky’s treatment during his year in prison—the 37-year-old alleged that prosecutors had promised him leniency if he implicated Hermitage founder William Browder in wrongdoing, and that he had been denied adequate medical care—“cannot be viewed separately from the course of the investigation of the criminal case.”
“Psychological and physical pressure was exerted upon him,” the report alleges.
Russian officials have acknowledged some “guilt” in Magnitsky’s death, and more than 20 people have been fired as a result. Russian President Dmitri Medvedev has ordered a full investigation into the case.
“Of particular concern are two facts. First, Magnitsky made a statement about the large-scale fraud involving theft of state money by high-ranking officials of the Russian Interior Ministry,” the 20-page report says. “He gave a detailed description of the fraudulent scheme and named names. Second, the one year in pretrial detention was due to expire. The investigators did not have sufficient evidence to prove his guilt."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
High frequency trading is not evil, it is not a conspiracy and it really is not new; it is the natural evolution of the professional trading community making markets, providing liquidity and hopefully...