Hermitage Points to RenCap in Fraud Case
The Telegraph, By Philip Aldrick
Hermitage Capital Management, the hedge fund battling state corruption in Russia, has accused Renaissance Capital, one of Russia’s leading investment banks, of possible involvement in two alleged frauds costing the Russian taxpayer $337m (£204m).
In a testimony filed by Hermitage’s lawyer in a New York court, the hedge fund claims there is sufficient circumstantial evidence to suggest that RenCap and its former directors, including Stephen Jennings, the “Kiwi oligarch” who founded and is chief executive of parent company Renaissance Group, may be “implicated in the tax rebate fraud”.
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To learn more about what happened to Sergei Magnitsky please read below
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- Why was Sergei Magnitsky arrested?
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- The corrupt officers attempt to arrest 8 lawyers
- Past crimes committed by the same corrupt officers
- Petitions requesting a real investigation into Magnitsky's death
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- Cover up
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