Bill Browder, Hermitage capital, RSM and Loop Capital
United States of America v. Prevezon Holdings Ltd. et al, 1:13-cv-06326, No. 576-21 (S.D.N.Y. Mar. 3, 2017)
> John E. Rollins, Director in the Financial Investigations and Dispute Advisory practice at McGladrey LLP
> I was asked by the SDNY to perform an analysis of certain financial transactions that occurred subsequent to the disbursement of approximately RUB 5.4 billion, or approximately USD 230 million, in aggregate, in late December 2007 from the Federal Treasury of the Government of the Russian Federation (the “Russian Treasury”) to accounts in the name of three former portfolio companies of the Hermitage Fund, an investment fund created in 1996 by Hermitage Capital Management.
> Prevezon Holdings, Ltd. (“Prevezon”);
> Arivust Holdings, Ltd. (“Arivust”); and
> Aikate Properties Inc. (“Aikate”)
> I joined McGladrey in 2011 at which point the consulting practice was a subsidiary of H&R Block and operated as RSM McGladrey, Inc. At the end of 2011, the partners of McGladrey & Pullen, LLP acquired the consulting practice from H&R Block and in 2012 renamed the combined firm McGladrey LLP.
> Based on my analysis of the record in this matter and my experience in conducting and in leading financial investigations, I have formed the following opinions:
> Approximately USD 1.97 million in proceeds from the Russian tax refunds is traceable from the Russian Treasury through the global financial system and into a bank account associated with Prevezon (account #CH780023023046738160 held at UBS Switzerland).
> Approximately EUR 7.10 million in proceeds from the Russian tax refunds is traceable from the Russian Treasury through the global financial system and to Arivust.
> Approximately USD 650 thousand plus EUR 750 thousand in proceeds from the Russian tax refunds is traceable from the Russian Treasury through the global financial system and to Aikate.
> Multiple corroborative sources exist for 160 out of 214 Flow of Funds transactions involved in the movement of funds through the global financial system and into a bank account associated with Prevezon and to Arivust and Aikate.
> The total amount of traceable funds into a bank account associated with Prevezon is unaffected by the exclusion of transactions with only one source (i.e., transactions lacking a second source to corroborate).
https://www.sec.gov/cgi-bin/browse-edgar?CIK=0001038016&action=getcompany
If you go through these focus reports you'll see that RSM/McGladrey are independent accounting firms used by Loop Capital.
If im interpreting this correctly, it looks like Hermitage (Bill Browder) was funneling cash from the Russian Treasury into Russian and US firms with Swiss bank accounts (no shit).
RSM look to be the good guys in this scenario, which I have seen other sauces of them being the good guys, such as getting out Iranian business in 2013. See below.
https://www.bizjournals.com/twincities/blog/law/2013/04/mcgladrey-rsm-uani-iran-dayarayan.html
Im starting to think RSM has dirt on Loop Capital and now Bill Browder, Q said dont lose focus on Loop Capital.
There is lots of digging material here.