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Bill Browder welcomes US action over Magnitsky death | Bill Browder welcomes US action over Magnitsky death |
(about 1 hour later) | |
By Russell Hotten Business reporter, BBC News | By Russell Hotten Business reporter, BBC News |
A powerful group of US politicians has called for sanctions against Russians allegedly involved in a campaign against financier Bill Browder. | A powerful group of US politicians has called for sanctions against Russians allegedly involved in a campaign against financier Bill Browder. |
Once one of Russia's largest investors, he claims officials were complicit in a fraud against his firm and the death of lawyer Sergei Magnitsky. | Once one of Russia's largest investors, he claims officials were complicit in a fraud against his firm and the death of lawyer Sergei Magnitsky. |
Now Congressmen, including heavyweights Joe Lieberman and John McCain, propose banning the officials from the US. | Now Congressmen, including heavyweights Joe Lieberman and John McCain, propose banning the officials from the US. |
Russia's President Dmitry Medvedev has promised a full inquiry into the death. | Russia's President Dmitry Medvedev has promised a full inquiry into the death. |
The US politicians are backing new legislation put before Congress on Friday, The Sergei Magnitsky Rule of Law Accountability Act of 2011. | The US politicians are backing new legislation put before Congress on Friday, The Sergei Magnitsky Rule of Law Accountability Act of 2011. |
In 2005, Mr Browder, who runs fund manager Hermitage Capital, was banned from Russia as a threat to national security after allegations that his firm evaded tax. | In 2005, Mr Browder, who runs fund manager Hermitage Capital, was banned from Russia as a threat to national security after allegations that his firm evaded tax. |
But Mr Browder says his company was targeted in a $230m (£140m) fraud, and has mounted a strong campaign to uncover what happened to the money and Mr Magnitsky, Hermitage's lawyer. | But Mr Browder says his company was targeted in a $230m (£140m) fraud, and has mounted a strong campaign to uncover what happened to the money and Mr Magnitsky, Hermitage's lawyer. |
Mr Magnitsky claimed to have unearthed evidence that implicated the police, officials, and bankers in the fraud. | |
But he was arrested and imprisoned without trial in November 2008 after being accused of colluding with the fraudsters. | But he was arrested and imprisoned without trial in November 2008 after being accused of colluding with the fraudsters. |
Mr Magnitsky died a year later, aged 37, amid reports of terrible abuse in prison and denial of medical help. | Mr Magnitsky died a year later, aged 37, amid reports of terrible abuse in prison and denial of medical help. |
Cover up | Cover up |
A breakthrough in Mr Browder's campaign came last month when Switzerland announced that it had opened a money-laundering probe at the request of Hermitage. | A breakthrough in Mr Browder's campaign came last month when Switzerland announced that it had opened a money-laundering probe at the request of Hermitage. |
Now, in an escalation of international interest in the affair, the Congressmen want to deny entry into America "all those who played a role" in the arrest of Mr Magnitsky, his death, and in the alleged cover up of the corruption he exposed. | |
Senator Benjamin Cardin proposed similar legislation late last year, but it was not passed before Congress went into recess. | Senator Benjamin Cardin proposed similar legislation late last year, but it was not passed before Congress went into recess. |
However, not only does his new legislation have far more prominent supporters, they include Republican and Democrat Whips, which will significantly improve the chances of success. | However, not only does his new legislation have far more prominent supporters, they include Republican and Democrat Whips, which will significantly improve the chances of success. |
Mr Browder has identified some 60 individuals he claims were involved in the fraud, death, and subsequent cover-ups. These include senior Kremlin officials. | Mr Browder has identified some 60 individuals he claims were involved in the fraud, death, and subsequent cover-ups. These include senior Kremlin officials. |
London-based Mr Browder, a US-born British citizen, said: "We are witnessing a groundswell of support for this campaign in Washington. | London-based Mr Browder, a US-born British citizen, said: "We are witnessing a groundswell of support for this campaign in Washington. |
"This dramatic step taken in the US Senate advances the fight against Russian corruption and further defines Sergei Magnitsky's legacy." | "This dramatic step taken in the US Senate advances the fight against Russian corruption and further defines Sergei Magnitsky's legacy." |
Mr Browder's political supporters in Canada, Germany and Brussels have also called for action against Russia, and there were reports earlier this year that David Cameron had raised the issue. | Mr Browder's political supporters in Canada, Germany and Brussels have also called for action against Russia, and there were reports earlier this year that David Cameron had raised the issue. |
Before accusations of tax evasion were raised, Mr Browder was vocal defender of the Russian government and its then-president Vladimir Putin. | Before accusations of tax evasion were raised, Mr Browder was vocal defender of the Russian government and its then-president Vladimir Putin. |
He began investing in Russia in 1996, and at one point managed a portfolio of shares worth about $4bn. | He began investing in Russia in 1996, and at one point managed a portfolio of shares worth about $4bn. |
Earlier this month Russian authorities said they were ready to file formal charges of tax evasion against Mr Browder. It was seen as a possible prelude to requesting his extradition from the UK. | Earlier this month Russian authorities said they were ready to file formal charges of tax evasion against Mr Browder. It was seen as a possible prelude to requesting his extradition from the UK. |
'Fabrication' | 'Fabrication' |
However, his removal to Moscow is seen as extremely unlikely and Mr Browder dismissed the move as another attempt to frighten him into silence. | However, his removal to Moscow is seen as extremely unlikely and Mr Browder dismissed the move as another attempt to frighten him into silence. |
Last year a commission appointed by President Medvedev found that Russian police fabricated charges against Mr Magnitsky. However, no one has been charged in connection with his arrest or death. | Last year a commission appointed by President Medvedev found that Russian police fabricated charges against Mr Magnitsky. However, no one has been charged in connection with his arrest or death. |
Mr Medvedev has made stamping out corruption one of his primary policy objectives. He has requested further investigations. | Mr Medvedev has made stamping out corruption one of his primary policy objectives. He has requested further investigations. |
At a press conference in Moscow on Wednesday, Mr Medvedev said he had given "the order to the prosecutors to sort out this [Magnitsky] case". | At a press conference in Moscow on Wednesday, Mr Medvedev said he had given "the order to the prosecutors to sort out this [Magnitsky] case". |
He said the allegations of fraud against Mr Browder were "not as simple as presented by the press". | He said the allegations of fraud against Mr Browder were "not as simple as presented by the press". |
But he added: "I'm determined to make an objective investigation of this case fast and its findings readily available to the public." | But he added: "I'm determined to make an objective investigation of this case fast and its findings readily available to the public." |
A spokesman for the Russian embassy in Washington said on Friday that they had "no specific comment as we are still reading the proposed legislation document". | A spokesman for the Russian embassy in Washington said on Friday that they had "no specific comment as we are still reading the proposed legislation document". |
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