Support The Moscow Times!

Moscow Court Rules Hermitage Capital CEO's Prosecution Lawful

A Moscow court rejected Tuesday the appeals of defense lawyers acting for investment fund Hermitage Capital's British CEO against a conviction for tax evasion.

Hermitage Capital has been at the center of the so-called Magnitsky case, which saw a tax lawyer who was working for the company dying in custody in 2009 after reportedly being maltreated.

The company's CEO and founder William Browder was found guilty in July on charges of evading taxes totaling 500 million rubles ($15.15 million) and sentenced in absentia to nine years in prison.

Investigators claimed Hermitage Capital, once the biggest portfolio investor in Russia, bought approximately 7 percent of the gas monopoly Gazprom's stock through illegal tax schemes thought to be devised by the deceased lawyer Sergei Magnitsky.

Magnitsky was found guilty of tax evasion in July 2013 in the first case against a dead man in Russian legal history.

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

As we approach the holiday season, please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world’s largest country.