Hermitage Capital Management Limited has retained Bennett Jones to assist with engaging Canadian law enforcement and governmental agencies with respect to the suspected money laundering activities in Canada related to the US$230 million tax refund fraud committed against the Russian Treasury and Hermitage. The crime was exposed by Sergei Magnitsky, a Russian lawyer and auditor, who subsequently was arrested and allegedly murdered while in police custody. Similar information has been provided by Hermitage to authorities in other jurisdictions, including the United States, France and Switzerland, which has resulted in several ongoing criminal, civil and administrative proceedings and significant asset freezes. Investigators track millions of dollars from Russian Tax fraud coming to Canada and US$14 Million Connected to Proceeds of US$230 Million Fraud Uncovered by Magnitsky Have Been Traced to Canada.
Bennett Jones