Magnitsky Partner Faces Charges In Gazprom Stock Misappropriation

Russian authorities say they are preparing to bring criminal charges against Hermitage Capital Management CEO Bill Browder for an allegedly illegal purchase of $3 billion in shares in Gazprom before 2005.

The Interior Ministry said on March 5 that there is sufficient evidence to charge Browder, a British citizen.

Reports say investigators believe Hermitage Capital bought shares in the Russian state-controlled gas giant through illegal tax schemes.

Russian prosecutors have already charged Browder and his late partner, Sergei Magnitsky, with tax evasion.

On March 5, a Moscow court announced it will start Magnitsky’s posthumous trial on March 11.

Magnitsky died in pretrial custody in 2009 after accusing government officials of corruption.

Browder has campaigned for prosecutions of those responsible for Magnitsky’s death.

Magnitsky implicated mid-ranking Interior Ministry and tax officials in a $230 million scheme to defraud the government.

Based on reporting by Interfax, ITAR-TASS, and AP

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