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From 1995 to 2006, Hermitage Capital Management was one of the largest foreign investors in Russia,[36] and Browder amassed millions through his management of the fund. In both 2006 and 2007, he earned an estimated £125–£150 million.[37]
In March 2013, HSBC, a bank that serves as the trustee and manager of Hermitage Capital Management, announced it would end the fund's operations in Russia. The decision was taken amid two legal cases against Browder: a libel court case in London and a trial in absentia for tax evasion in Moscow.[38]
In June 2018, HSBC reached a settlement with the Russian government to pay a £17 million fine to Russian authorities for its part in alleged tax avoidance.[39][40]
https://en.wikipedia.org/wiki/Bill_Browder
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