HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » Swiss Prosecutor to End M...

Fri Nov 20, 2020, 02:14 PM

Swiss Prosecutor to End Magnitsky Case as Browder Calls Foul

Source: Bloomberg

(Bloomberg) -- Swiss prosecutors are close to ending a decade-old probe into alleged money laundering tied to a $230 million tax-fraud case pursued by Sergei Magnitsky, whose death in a Russian jail prompted the U.S. to enact laws targeting those responsible.

The Swiss federal prosecutors outlined their intention to close the case soon in a Nov. 6 letter to Hermitage Capital Management, a London-based firm founded by Bill Browder, which made the allegations in the wake of Magnitsky’s 2009 death.

Before his 2008 arrest in Russia, Magnitsky had been investigating what he believed was a conspiracy to take control of three Hermitage companies and then fraudulently claim back $230 million in refunds from taxes Hermitage had previously paid. The Magnitsky Act was passed in 2012 and allows the American government to punish people it sees as human-rights violators by freezing their assets and denying them entry to the U.S.

The Swiss prosecutors said they intend to confiscate as much as $4 million from Swiss bank accounts controlled by entities in the case. Those are the same entities that Hermitage Capital says are controlled by Russians who laundered $24 million in proceeds from the tax scheme through Swiss banks.



Read more: https://www.msn.com/en-us/money/markets/swiss-prosecutor-to-end-magnitsky-case-as-browder-calls-foul/ar-BB1bbqAh?ocid=DELLDHP&li=BBnbfcL

2 replies, 1077 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 2 replies Author Time Post
Reply Swiss Prosecutor to End Magnitsky Case as Browder Calls Foul (Original post)
Yo_Mama_Been_Loggin Friday OP
Mike 03 Friday #1
Ford_Prefect Friday #2

Response to Yo_Mama_Been_Loggin (Original post)

Fri Nov 20, 2020, 03:02 PM

1. The Magnitsky Act

I've always wondered if this is what Mike Flynn talked to the Russian ambassador about, and why he lied to cover it up. And when Trump couldn't get rid of the MA, Putin lost interest in him. Somewhere in one of the Trump books I remembering reading that Putin's #1 obsession is to get rid of the Magnitsky Act.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Mike 03 (Reply #1)

Fri Nov 20, 2020, 03:19 PM

2. I read that too. Putin's primary interest in Trump was to protect investments

made in the west by Putin and his cronies. It was also to protect their money laundering schemes which has been suggested as the reasoning behind his covert support of Bexit.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread