Direct Action Continues by William Browder against Russians Involved in Magnitsky Death

Who knew that what corrupt Russian officials care about, more than just about anything, is getting their assets — and themselves — out of their own country? They own homes in St. Tropez, fly to Miami for vacation and set up bank accounts in Switzerland. They understand the importance of stashing their money someplace where the rule of law matters, which is most certainly not Russia. Besides, getting out of Russia is one of the pleasures of being a corrupt Russian official.

As it turns out, a man named William Browder knows this. As does Senator Benjamin Cardin, a Democrat from Maryland. As do plenty of other senators, on both sides of the aisle.

As a result, the Senate Foreign Relations Committee will likely report out a bill in the next few weeks that would force the State Department to deny visas, and freeze the assets, of Russian officials who are labeled “gross human rights abusers.” After that, it will be attached to an important trade bill that the Democratic-led Senate and the Republican-controlled House need to pass later this summer. Which would make it a rare and welcome moment of bipartisanship in this rancorous political season.

Browder’s involvement in this bill is deeply personal. His hedge fund, Hermitage Capital, was once the largest Russia-only fund in the world. But, in 2005, he was essentially run out of the country after criticizing, once too often, the theft of corporate assets by henchmen of Vladimir Putin, the Russian strongman. A small group of officials fraudulently “took over” his company, and landed a phony $230 million tax refund, which they pocketed.

The full article, entitled “Turning the Tables on Russia”, by Joe Nocera can be found on the New York Times website.