Russia Hermitage Capital Management

Russia Hermitage Capital Management

Hermitage Capital's Manager Wanted by Russia

I was recently in Russia for a banking and wealth management conference and a Hedge Fund Premium networking event, so a story on a Russian hedge fund manager caught my eye.  William Browder, the ,manager of Hermitage Capital Management, and the Russian government have previously sparred over possible tax evasion leading to his exile from the country.   Now, the government has placed him on a wanted list after he posted a video accusing the Russian government of corruption in its case against his hedge fund. 
Russia says Browder and Hermitage may be guilty of a US$16.9 million tax evasion. But Browder, in a video he posted on the Web site YouTube, says Hermitage has actually been the victim of a US$230 million scam, the money stolen using documents he says were seized by the Russian government. Browder has been an outspoken critic of Russian corporate governance.
“It’s one thing to be victimized by a crime,” Browder says in the video. “It’s another to be blamed for the crime that you’re a victim of.”
While Browder remains free—a situation unlikely to change, Russian officials acknowledge, despite their efforts—a Hermitage lawyer remains jailed in Russia.
Meanwhile, the video seems to have found it’s audience: With more than 12,000 views, the Russian version of the video is the most-watched news clip on the Web site.    Source

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Tags: Russia government finance, hedge funds Russia, Russia hedge fund case, tax evasion, hermitage capital management, William Browder, hermitage capital management russia taxes

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