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12/03/2008
Russia Cracking Down on Insider Trading
6/10/2008
Reiderstvo - Corporate Raiding, Russia Style
Hermitage Capital Head Talks Russian Corruption
More Searching at Siemens Offices 5/24/2007
Russian Money Laundering Scandal Darkens Mellon / BNY Merger Talks
Russia Files $22 Billion Lawsuit Against Bank of New York
Siemens Investigation Expands, Plot Thickens
Hermitage Capital's William Browder Banned from Russia
Russia Cracking Down on Insider Trading
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Reiderstvo - Corporate Raiding, Russia Style
And when they say raiding - they mean it. With riot gear and all that. The Russians make those sniveling, spying, bribing German corps look like total nancy boys. Good stuff from Jason Bush via Business Week.
4/03/2008
-- MDT
Labels: corporate raiding, reiderstvo, Russia
Hermitage Capital Head Talks Russian Corruption
Really interesting stuff here from Bill Browder of hedge fund, Hermitage Capital Management. Hermitage, which has invested heavily in Russia but is not terribly popular because of its activist approach, has found itself beset with all manner of dirty gamesmanship. Browder himself has been charged with tax evasion, a charge he disputes, and has been barred from even entering Russia since 2006.
-- MDT
12/13/2007
-- MDT
Labels: Bill Browder, coruption, hedge fund, Hermitage Capital, Russia
More Searching at Siemens Offices 5/24/2007
Russian Money Laundering Scandal Darkens Mellon / BNY Merger Talks
As you'll read in this Pittsburgh Tribune-Review article, some are saying that the BNY / Russia money laundering litigation is a serious enough concern that it could disrupt the planned merger of these two financial heavyweights.
We'll know soon enough what the impact will be, as Mellon shareholders are set to meet this very morning in the 'Burgh. The $17 billion merger with BNY was expected to be complete in July.
We'll see if that timeline holds...
-- MDT
5/18/2007
We'll know soon enough what the impact will be, as Mellon shareholders are set to meet this very morning in the 'Burgh. The $17 billion merger with BNY was expected to be complete in July.
We'll see if that timeline holds...
-- MDT
Labels: Bank of New York, Mellon, money laundering, Russia
Russia Files $22 Billion Lawsuit Against Bank of New York
In a suit filed on Thursday, Russia alleges that between 1996 and 1999 Bank of New York took part in a money laundering scheme that cost the Russian federation $22.5 billion dollars. This is not exactly a new story for Bank of New York, which has seemingly been involved in one Russian money laundering scandal or another for most of the last decade. Forbes provides a quick list of these past issues and the AFP offers a response to the case from BNY.
For a thorough run down of the intersection of BNY, Russia and scandal, try Russianlaw.org, which seems to relish these things.
-- MDT
4/02/2007
For a thorough run down of the intersection of BNY, Russia and scandal, try Russianlaw.org, which seems to relish these things.
-- MDT
Labels: Bank of New York, lawsuit, money laundering, Russia
Siemens Investigation Expands, Plot Thickens
As the Sieman's bribery scandal (and "Operation Amigo") creeps toward the company's C-Suite, the International Herald Tribune explores the "risks and rewards" of investing in Germany.
Meanwhile, not exactly helping things, certain Siemens employees under arrest have admitted to offering bribes to Russian officials.
Also be sure to check out the Wharton Business School's take on all this: Hit by an Earthquake: How Scandals Have Led to a Crisis in German Corporate Governance
-- MDT
3/21/2006
Meanwhile, not exactly helping things, certain Siemens employees under arrest have admitted to offering bribes to Russian officials.
Also be sure to check out the Wharton Business School's take on all this: Hit by an Earthquake: How Scandals Have Led to a Crisis in German Corporate Governance
-- MDT
Labels: bribery, investigation, Russia, Siemens, Wharton
Hermitage Capital's William Browder Banned from Russia
Browder, one of Russia's largest foreign investors has been a steady critic of corporate scandal in that country, so much so in fact, that it appears the government has decided he is a threat to national security:
More here (requires subscription). Additional details can also be found at The Houston Chronicle.
-- MDT
Browder Barred as a Security Threat
By Catherine Belton
Staff Writer
The Moscow Times
William Browder, the outspoken CEO of Hermitage Capital Management, Russia's biggest foreign portfolio investor, has been denied entry to Russia under a rule that bars foreigners considered to pose a threat to national security, according to a Foreign Ministry letter obtained by The Moscow Times.
Browder has crusaded against corporate governance abuses, most notably at Gazprom and Surgutneftegaz, and the news that he has been barred since November is stirring up worries in the foreign business community that the state is extending its efforts to silence critics to foreign investors...
More here (requires subscription). Additional details can also be found at The Houston Chronicle.
-- MDT
Labels: Hermitage Capital, Russia
