Wednesday, 1 October 2014
Last updated 3 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.
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...