Posts Tagged ‘renaissance capital’

June 2011

Hermitage Capital calls for Russian inquiry into $330m ‘tax frauds’ uncoverred by Sergei Magnitsky

The Daily Telegraph

Lawyers for the London-based hedge fund Hermitage Capital Management have applied to the Russian authorities for an inquiry to be opened into the alleged involvement of a senior state official in suspected tax frauds worth more than $330m (£204m).

The alleged frauds were uncovered in 2008 by Sergei Magnitsky, Hermitage’s investigative lawyer whose death in custody while awaiting trial on allegedly trumped-up charges has become a national scandal.

Mr Magnitsky’s colleagues have unearthed new evidence that they claim shows the same two tax officials, Olga Stepanova and Elena Khimina green-lighted the rebates for both alleged frauds. Ms Stepanova has since been promoted to a senior post in the Russian defence ministry.

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