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Arrest of Browder in absentia upheld by Moscow court

14:58 22/03/2017

MOSCOW, March 22 (RAPSI) – The Moscow City Court has dismissed an appeal against a lower court’s ruling to arrest Hermitage Capital Management CEO William Browder in absentia, RAPSI learnt in the court on Wednesday.

The ruling of the Tverskoy District Court of Moscow has come into force.

Browder had been charged with several economic crimes, including deliberate bankruptcy and tax evasion, his attorney Alexander Antipov has told RAPSI earlier. The investigation into Browder was completed within the shortest possible time, from February 8 to 17, 2017, the lawyer added. However, neither the defendant nor his legal team were notified about investigation. According to Antipov, this fact exemplifies “secret justice” and violates the law.

Earlier, the Tverskoy District Court arrested Browder in absentia on charges of embezzling stock of Russia’s oil giant Gazprom. 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.

However, the United Kingdom refused to extradite its national.

In 2013, 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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Arrest of Browder in absentia upheld by Moscow court

14:58 22/03/2017 The Moscow City Court has dismissed an appeal against a lower court’s ruling to arrest Hermitage Capital Management CEO William Browder in absentia.
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