Sunday, 28 December 2014
Last updated 2 hours ago
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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.