New York (HedgeCo.Net) – Hedge fund founder and critic of corruption in Russia, Bill Browder, has a lot to say about the arrest of one of Russia’s richest men, Vladimir Yevtushenkov, The Guardian reports.
“I don’t know if Yevtushenkov did anything more or less irritating to Putin than the other oligarchs. I just think [Putin] randomly picked one out to make sure none of the other oligarchs are going to start challenging him or start planning any palace coups.” The Guardian said. “Now that their wealth has been diminished by Putin’s actions, they have a big incentive to act against Putin and he knows that.”
Yevtushenkov is the major shareholder and President of the large Russian holding company Sistema. In March 2006, he controlled 62% of the shares in Sistema. Yevtushenkov is also the owner of the Russian company Sitronics.
In 2013 Browder himself said that he fears for his life and that if he were to be assassinated, “everyone would know who did it.”
Browder’s lawyer, Sergei Magnitsky, was a Russian accountant and auditor who was arrested and died in custody while investigating fraud among Russian officials in 2009. Since 2007 Browder has been living in London after accusing Russian tax officials of embezzlement, Browder has been campaigning against Corruption in Russia ever since.
“His campaign has not fallen on deaf ears with the U.S. signing the Magnitsky Act into law in December 2012. The Act prohibits Russian officials thought to be connected to the death of Magnitsky from entering the U.S and using its banking system, a factor that has enraged Russia.” CNBC Reports.
“In December 2012, the Magnitsky Act was passed which imposes sanctions on Russian officials and in April 2013, they actually sanctioned 16 officials [on the U.S. OFAC sanctions list] and the Russians are apoplectic because this is such a blow to their reputation.” Browder said. “At the moment nothing keeps me protected…If I get assassinated, everyone will know who did it….It would effectively be a declaration of war with the West if they decide to kill me,” he told CNBC in London. Browder is CEO and co-founder of hedge fund Hermitage Capital Management.
Alex Akesson
For HedgeCo.net
alex@hedgeco.net
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