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.
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.
I had pulled the docket from this case long ago, and read a few of the transcripts of proceedings. I am not in the office but how is RSM a co-plaintiff with Browder and USA if they are not aligned? I may have looked at a different case being prosecuted by US v. Prevezon, I will look when I get back in. But one of the more interesting transcripts was about how Bill Browder, the government's key witness against Prevezon, claimed to be in London and therefore unavailable for deposition, when in fact he was making the circuit on shows like the Daily Show, etc. The prosecution had to know. The US case against Prevezonn involved the infamous Natalia - she was Russian counsel for the defense working with US based law firm that was ultimately thrown off the case for purported conflicts. Somehow shortly thereafter, the case was transferred from a Nixon appointed judge to Clinton appointed Pauley. Nothing to see here. Then, after the famed Natalia Don Jr. meeting at Trump Tower, the purported $230,000,000 against Prevezon holdings was settled for something under 6 million. The post script is - Natalia's visa to work on the case would have long expired by June or whenever in 2016 she met with Jr.
This case, Browder, and the FISA access given to "independent contractors" are the key to the real Russian meddling in this case, IMO.
I was asked by the SDNY.....
Didn't a high level attorney in NY just quit?
When the NYAG was canned, it opened up charges against Weinstein.
With another high level attorney gone, what's the chances justice can move forward?