IAE MATERIAL
Hermitage Fund’s Russian entities
Three Russian companies belonging to the fund were re-registered to third parties, and the fund lost control of them.
The Hermitage Fund case concerns the Russian entities Riland LLC, Parfenion LLC, and Makhaon LLC. According to the case file provided, after William Browder was barred from entering Russia, the companies were re-registered to third parties. Sergey Magnitsky investigated the change of control and the subsequent tax refunds.
The case file contains no separate information on the current owners or valuation of each company, so no such details are stated here.
Source: client-provided Case No. 3 file.
Photo of William Browder: Michael Wuertenberg / World Economic Forum, CC BY-SA 2.0.