No Charges In Russian Hedge Fund Lawyer’s Death

Jul 1 2010 | 11:11am ET

Investigators will not face criminal charges in the death of hedge fund lawyer Sergei Magnitsky, a Russian investigative committee has decided.

The committee declined to file charges against the investigators who requested that Magnitsky remained jailed during their probe of alleged tax evasion stemming from his work for British hedge fund Hermitage Capital Management. Magnitsky died in November after nearly a year in one of Moscow’s most notorious prisons, where his lawyers and human rights activists say he was denied adequate medical care and tortured.

Magnitsky had accused Russian Interior Ministry officials of defrauding Hermitage, once the largest foreign investor in Russia, of US$230 million. Russia, in turn, accused Hermitage and its founder, William Browder, an outspoken critic of Russian corporate governance, of a US$16.9 million tax evasion.

Lyudmila Alexeyeva, the human rights activist championing Magnitsky’s case, has promised to appeal.

The decision not to file charges comes as a second medical report on Magnitsky’s death found that the lawyer had died of a sudden heart attack. Hermitage blasted that conclusion as offering a fig-leaf for the investigators.

The findings “do not seem trustworthy and are aimed at covering up the crimes committed against him—illegal arrest and intentional deprivation of life,” the hedge fund said in a statement.


In Depth

High Time For A Cannabis Hedge Fund?

Sep 30 2014 | 7:07am ET

Launching a hedge fund is always a gamble, but Leslie Bocskor's decision to launch...

Lifestyle

Griffin Donates $1M To Rauner's Illinois Gov. Campaign

Sep 22 2014 | 9:29am ET

Hedge fund billionaire Kenneth Griffin definitely has a dog in this fight. The Citadel...

Guest Contributor

Appraisal Ratio Key To Evaluating Hedge Funds And Other New Investments

Sep 29 2014 | 3:07pm ET

As a former finance professor Peter Hecht experiences heartburn every time he hears...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    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…

 

Futures Magazine

September 2014 Cover

High frequency market making

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...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.