Investment Fund Tells Amazing Story of Official Russian Corruption

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The story of Hermitage Capital, a Britain-based investment fund that was once one of the largest foreign investors in Russia, and what it encountered at the hands of corrupt Russian officials, “highlightsthe hazards of practicing law in Russia’s corruption-ridden courtsdespite nearly two decades of reforms supported by hundreds of millionsin U.S. and European aid,” Philip Pan wrote in an Aug. 13 piece in the Washington Post. It also highlights the dangers of doing business in Russia for Western firms. Hermitage was apparently the victim of a brazen attempt by corrupt Russian officials to steal its assets, in an all-too-common practice […]

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