Hedge Fund Lawyer's Death Gets UN Probe

Jan 24 2011 | 10:03am ET

The death of hedge fund lawyer Sergei Magnitsky is now the subject of a United Nations investigation.

Juan Mendez, the UN's special rapporteur on torture, has opened a probe into Magnitsky's death in 2009 after nearly a year in jail awaiting trial on tax fraud charges. Magnitsky, in a series of notes he kept during his confinement in some of Moscow's most notorious jails, claimed to have been denied adequate medical treatment, and supporters say he was tortured.

"There has been engagement by the special procedures mechanisms with the Russian Federation in relation to the case of Mr. Magnitsky, in accordance with normal diplomatic channels," the UN told The Telegraph. The UN launched its probe after a request from anti-torture group Redress.

Magnitsky died on Nov. 16, 2009. He had been charged with tax fraud after he, as a lawyer for British hedge fund Hermitage Capital Management, alleged that Russian officials defrauded Hermitage and the Russian treasury of US$230 million. The 37-year-old said before his death that authorities were trying to pressure him into withdrawing those allegations and into implicating Hermitage founder William Browder.

Russian officials, including President Dmitri Medvedev, have expressed regret for Magnitsky's death and promised a full investigation. But, to date, no charges have been filed and the Interior Ministry's probe has previously been extended to today.


In Depth

Fitch Says Alternative Asset Managers 'Stable' Despite Dry Powder

Nov 20 2014 | 9:30am ET

Ratings agency Fitch says the outlook for seven publicly traded alternative asset...

Lifestyle

Cohen Buys $101 Million Sculpture

Nov 12 2014 | 9:17am ET

Steven Cohen was the sole bidder for a rare Alberto Giacometti sculpture at Sotheby...

Guest Contributor

Why The Big Money Is Going To Europe

Nov 14 2014 | 6:03am ET

Peer-to-peer lending was invented with the individual investor in mind. But despite...

 

Sponsored Content

    For Hedge Funds, Mastering Data Is Key To Success

    Nov 4 2014 | 9:45am ET

    Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

November 2014 Cover

Building a better market

Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...

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.