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Hermitage Capital CEO again arrested in absentia by Russian court

16:47 20/02/2017

MOSCOW, February 20 (RAPSI) – Moscow’s Tverskoy District Court again issued an arrest warrant in absentia for Hermitage Capital Management CEO William Browder, RAPSI learnt from the court's press-service on Monday.

The court's press service did not give any details of the case.

Browder’s defense lawyers have already filed an appeal against the ruling. The hearing date has not been scheduled yet. 

Earlier, the Tverskoy District Court has issued an arrest warrant in absentia for Browder on charges of embezzling stock of Russia’s oil giant Gazprom. The United Kingdom refused to extradite its national.

According to Russian authorities, Browder illegally bought over 130 million Gazprom shares worth at least 2 billion rubles ($32.6 million at the current exchange rate) at a lower, intra-market price through a Russian company he controlled, Kameya LLC, which amounts to large financial loss for Russia.

Earlier, a Russian court sentenced Browder in absentia to nine years in a penal colony. The court found that in 1997-2002, Hermitage Capital auditor Sergei Magnitsky created and applied an illegal tax evasion scheme in the interests of Browder.

Magnitsky worked for Firestone Duncan and represented Hermitage Capital, which the Russian authorities accused of tax evasion. Magnitsky was arrested on fraud charges in November 2008 and found dead in a Moscow detention center in November 2009. The lawyer’s death provoked an international outcry.

In July 2013, Moscow’s Tverskoy District Court found Magnitsky guilty of tax evasion and closed the case due to his death. According to the case materials, Magnitsky’s and Hermitage Capital director William Browder’s actions cost Russia over 500 million rubles (over $8 million).

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Hermitage Capital CEO again arrested in absentia by Russian court

16:47 20/02/2017 Moscow’s Tverskoy District Court again issued an arrest warrant in absentia for Hermitage Capital Management CEO William Browder.
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