Interpol Rejects Russian Request To Arrest Hermitage's Browder

Oct 27 2017 | 8:28pm ET

Global law enforcement agency Interpol has rejected a unilateral Russian request last week to place Hermitage Capital Management executive William Browder on its most wanted list. 

The agency has reportedly told member nations to ignore Russia’s so-called “diffusion notice” filed on October 17, according to a Bloomberg article. A diffusion notice is used by nations to temporarily circumvent Interpol’s traditional vetting of arrest warrants in order to bring fugitives to the attention of member states quickly. In this case, however, Interpol has found that Russia’s repeated attempts to use such notices to have Browder arrested have been “predominantly political in nature and therefore contrary to Interpol’s rules and regulations.”

Interpol rejected Russia’s request to arrest Hermitage Capital Managementfounder Bill Browder, telling member states to ignore an attempt by Moscow to pursue the fund manager through the organization. A resident of the U.K. since giving up U.S. citizenship in 1998, Browder’s ability to travel was briefly impacted by the Russian action. 

The hedge fund manager is locked in a long-running battle with the Kremlin over the death of former Hermitage executive Sergei Magnitsky, who died in a Moscow jail in 2009 under suspicious circumstances. Magnitsky, a lawyer who worked for Hermitage in Moscow, had accused a number of Russian officials of a tax-fraud scheme before he died, and Browder has since led a worldwide campaign to levy sanctions against those believed to be responsible for human rights abuses in Russia. Partly due to his efforts, the U.S. passed the Magnitsky Act, followed by similar legislation in Britain, Estonia and Canada. 

Russia, which has described Magnitsky’s death as tragic but denies it was responsible, tried and convicted Browder of tax fraud in absentia in 2013. The country has repeatedly tried to discredit Browder since Magnitsky's death and has suggested he may have been complicit in Magnitsky’s death. 

Browder was once the largest foreign portfolio investor in Russia. He founded Guernsey-based Hermitage Capital Management in 1996 with Edmund Safra.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

CAIS: How Technology is Disrupting the Alternative Investment Industry

Nov 7 2017 | 5:35pm ET

If there’s one thing that alternative investment professionals can agree on, it...