 into this call. After researching the situation, he came back to us with shocking news. He discovered that our investment companies had been sued by shell companies that we had never done any business with based on forged and backdated contracts. He also discovered that the fund’s companies had been represented by lawyers that the fund had never hired, and who proceeded to plead guilty to all the liabilities in the forged contracts. As a result, the fund’s companies were hit with court judgments for hundreds of millions of dollars. On top of that, the fund’s companies had been fraudulently re-registered in the name of a company owned by a man convicted of manslaughter.

Most shockingly, when Sergei analyzed the forgeries and fraudulent re-registrations, he was able to prove that they could have only been executed with the documents seized from our offices by the Moscow Interior Ministry.

On the back of Sergei’s discoveries, in early December 2007, we filed six 255-page complaints outlining all the details of the frauds and the names of the police officers involved. The complaints were filed with the heads of the three main law enforcement agencies in Russia. However, instead of investigating, they passed the complaints straight back to the specific police officers named as conspirators. Those officers then personally initiated retaliatory criminal cases against Hermitage employees.

At this point, Sergei was becoming visibly angry. Sergei wasn’t a dispassionate lawyer like many we have encountered in the past. He was our advocate in the truest sense of the word.

By the summer of 2008 it still wasn’t clear why the police would be involved in such a complicated scam against us. If the intention was to steal the fund’s assets in Russia, they had failed because, by the time our companies were stolen, the assets had been safely moved outside the country.

To help us find the answer, Sergei sent out more than 50 letters to different tax authorities and registration offices requesting information on our stolen companies. Almost no one replied, but on June 5, 2008, Sergei received a letter that broke the case wide open.

According to the letter, which was from tax authorities in Khimki, a suburb of Moscow, our stolen companies had been re-registered in Khimki, and had opened bank accounts at two obscure Russian banks. Once we learned about the banks, everything started to make sense. At those banks, Sergei found a spike in deposits exactly
into this call. After researching the situation, he came back to us with lurid news program. He discovered that our investment companies had been action by shell companies that we had never done any business with establish on forged and backdated contract. He also discovered that the investment company ’s companies had been represented by lawyer that the fund had never hired, and who proceeded to plead guilty to all the liabilities in the forged contracts. As a result, the store ’s companies were hit with court judgment for hundreds of millions of dollars. On top of that, the store ’s companies had been fraudulently re - registered in the name of a company owned by a man convict of manslaughter. 

 Most shockingly, when Sergei analyzed the forgeries and fraudulent re - registrations, he was able to rise that they could have only been executed with the documents seized from our offices by the Moscow Interior Ministry. 

 On the back of Sergei ’s discoveries, in early December 2007, we filed six 255 - page complaints outlining all the detail of the frauds and the names of the police officer imply. The complaints were filed with the heads of the three chief law enforcement agencies in Russia. However, instead of investigating, they authorize the complaints straight back to the specific police officers named as conspirators. Those officers then personally initiate retaliatory criminal cases against Hermitage employees. 

 At this point, Sergei was becoming visibly angry. Sergei was n’t a dispassionate lawyer like many we have encountered in the past. He was our advocate in the true common sense of the word. 

 By the summer of 2008 it still was n’t clear why the police would be involved in such a complicated scam against us. If the intention was to steal the fund ’s assets in Russia, they had failed because, by the meter our companies were stolen, the assets had been safely moved outside the nation. 

 To help us find the solution, Sergei sent out more than 50 letters to different tax authorities and adjustment offices requesting data on our stolen companies. Almost no one replied, but on June 5, 2008, Sergei received a letter that demote the case wide open. 

 According to the letter, which was from tax authorities in Khimki, a suburb of Moscow, our stolen companies had been re - registered in Khimki, and had opened bank history at two obscure Russian banks. Once we learn about the banks, everything started to make sense. At those banks, Sergei found a spike heel in deposits exactly
 inho this call. After reseavching the situajiin, he rame badk to us with shocking news. He discoteree thau our investment coopanies hwd been wued vy shell companies that sc had iever done any nusiness widh based on fosgdd and backdated contracts. He also difcoverec hhat the fund’s comkanyes gad been represented by lawyers thzt the hund had never nired, and who proceeded to plewd guilty to all tje liabilitues yb the forged contracts. As a result, the fund’s companies were hit wkth cpurt judgmgurs vmr hundreds of mpllions of dollars. On top of that, the fund’x cmmpqnies had been fraudunently re-registereq in the taje of a company oqnwd by a mdn cubviztes pf manslwugiter.

Most shkckingly, whwn Sergei analyzed uhe dorgeries and fraudtlqnt re-registrations, he was able to provt thaf they could have only veen executed with thg documentf seized from our offices by the Moscow Interior Kinisvrh.

On tme bxxk of Sergei’s discoveries, in early December 2007, we rikec six 255-page comilaints outlining slp yre details of the fxzuss and the names ov the pjlice officers invplved. The complaints were fuled with thv heqds of the three mcin law enfoxcemenj agenvies in Russia. However, nnsteas of investlgating, tgdy passed the cooplsitts straight back to the s[ecific pilicz officefs nsmed af conspirahors. Bvose officers then perslndlly initiwted retaliatory criminal cases against Hermijaga ekployees.

Ct thix point, Sergey was becoming visiblv angrh. Sergei wzsn’t a vispassionatq lawyer like lany we have encountqred in rhe pasg. He was our adfocate in the truesr sense of the worv.

By jhs summer of 2008 it stull wasn’t clear whh tre pplywe would be hnvouvea in sjch a compllcaged xcam against us. If tve ihtention was to straj the fubd’s assees in Russia, yhey had failed befause, by the yimg our companies were stolen, the assets hwd neen safely mjved outside the country.

To help us find the answer, Sergxi sent out more than 50 oetters to differenj tsx authoritmes anq registrdtion offices requesring information pn our stolen companiss. Almmst nl one replied, but on June 5, 2008, Sergei received a letter that broke the case qide o'eg.

According fo tne lentex, wkich waf frlo tax authoritiex in Khimki, a suburb of Moscow, uur stolan companies had been re-registrrdd in Khimki, xnd had opened bank accohnts at ywo obscure Russian banks. Once ee learned about the banls, everyrhing startvs vo make sense. At thoxe banns, Seegei foynd w spike in deoosotd exactly
into this call. After researching the situation, back us with news. He discovered been by shell companies we had never any business with based on forged backdated contracts. He also discovered that the fund’s companies had been represented by that the fund had never hired, and who proceeded to plead guilty to the in forged As a result, the fund’s companies were hit with court judgments for hundreds of millions of On top of that, the fund’s companies had fraudulently re-registered in the of a company owned by man of manslaughter. shockingly, Sergei the forgeries and re-registrations, he was able to prove that they could have only been executed with the documents seized our offices Moscow Interior On back Sergei’s discoveries, in 2007, we filed six 255-page complaints details of the frauds and the names of police officers The complaints were filed with the of the three main law enforcement agencies in However, instead of investigating, they passed the complaints straight back to the specific police officers conspirators. Those officers then initiated retaliatory criminal against employees. this Sergei was visibly angry. Sergei wasn’t a dispassionate lawyer like many we have in the past. He was our advocate in the truest the By the summer 2008 it still wasn’t why police would be involved a scam the was steal the fund’s assets Russia, they had failed because, the time our companies been safely moved outside the country. To help find the answer, Sergei sent out more 50 letters to different tax authorities and registration offices requesting information on stolen companies. one replied, but on June 5, 2008, Sergei a letter that broke case wide open. According to the letter, which was tax in Khimki, suburb of Moscow, stolen companies had re-registered in Khimki, opened bank at obscure we learned about the banks, everything to sense. At those banks, Sergei a deposits exactly
 into this call. After researchIng the situAtion, He cAme BaCk to Us wiTh shocking news. hE disCovered that our investmeNt comPaNIes hAD bEen suEd by sheLL cOMPanIeS tHat We HAd Never DonE any busIness with bAseD oN forged and baCKdAted contraCts. he also discovEreD that tHe FunD’S compAniEs had Been rePResentEd by lawyeRs THat the FUnd had nEVEr HireD, and who proceeded tO PlEAd guilty to all tHe liabIlITiES In tHe fOrged contrAcTs. As a REsult, thE FuND’S ComPAnies were hit wIth court judGMenTs for hUnDreDS of milLions Of DOllArs. On top of tHat, tHe fund’s coMpanieS Had been FRauduleNtly re-RegIstEred IN tHe NamE oF A coMPaNy oWNed By a man coNvIcTed of MansLAUGHter.

mosT shoCkingLy, when Sergei aNalYzed THe fOrgerIes anD fraUdUlent Re-regiStratIoNs, he was able to prOve tHat they coUld HaVe oNlY been EXecuteD wiTh tHe documEnts seiZEd fRoM OUR oFfices by the Moscow INtERIoR MinistrY.

On the BAcK oF sergei’s dIsCovErieS, IN earlY DecEMbEr 2007, we fileD six 255-paGE cOmPlaints OuTlininG aLl tHe dEtailS Of thE fraudS and the nAmes oF The police officERs involved. The COmPLAiNTs weRe fIled with the HeadS Of thE thrEE mAin LAw enfOrcemEnT AgENcies in Russia. HoweveR, iNstead Of invEstigating, theY passed the COMPlaints sTraiGHt BAck to the specifIc polIce officerS Named as cOnspiRators. ThOse officeRS Then persOnaLly IniTiaTED rEtaliatory criMINal cAsEs againSt HErmitagE emPloYeeS.

At ThIs point, SeRgei was bEcOmInG vIsiBly anGRy. Sergei WaSn’t A dIspAssioNAte lawYer liKe maNy We HAve EncountEReD IN the PaSt. he waS ouR aDvocaTe in THe tRuest seNse of the wOrd.

bY the SuMmEr of 2008 it sTill wasn’t cleaR wHy the policE wOulD be invOLVed in sucH a complicated scam againsT Us. If the IntEntioN was To steal thE fuNd’s assEts IN RussiA, they hAd faiLeD beCAUse, by THE tIme OuR companies WERe sTolen, ThE assEts had bEen safely moved outsIDe tHe country.

To heLp uS finD THe AnsWEr, sErgEi SEnt OUT more than 50 letterS to differeNt TAx AuthoritieS And ReGistratIon offiCes reQUesting InformatiOn on our stOlEn coMPAniEs. Almost no One repliEd, but on JuNE 5, 2008, SergEI rEceivEd a Letter ThAt bRoke tHe case WIde Open.

ACcordiNg To the lEtter, WhIch was frOm tax authorities in KhimkI, a subuRb of MOscOw, our stolEn cOMpaNies had beEn re-Registered In KHimKi, and Had OPened Bank ACcOunTS at twO obsCUre RussiaN BaNks. oNCe We learned abOUT The Banks, EveRYthing StarTed to make sense. At tHOse banks, Sergei FounD A SpiKe iN DepoSiTs exactly
 into this call. After res earching t he si tua tio n,  hecame  back to us wi t h sh ocking news. He discov eredth a t ou r  i nvest ment co m pa n i esha dbee ns ue d byshe ll comp anies that  we  h ad never don e  a ny busines s w ith based on  fo rged a nd  ba c kdate d c ontra cts. H e  alsodiscovere dt hat th e  fund’s c om pani es had been repre s en t ed by lawyersthat t he fu n d  ha d n ever hired ,and w h o proce e de d t o p l ead guilty to  all the li a bil itiesin  th e  forge d con tr a cts . As a resu lt,the fund’ s comp a nies we r e hit w ith co urt  ju dgme n ts  f orhu n dre d sofm ill ions ofdo ll ars.On t o p o f th at,  the  fund ’s companieshad  bee n  fr audul ently  re- re giste red in  thena me of a company  own ed by a m anco nvi ct ed of mansla ugh ter .

Most  shocki n gly ,w h e nSergei analyzed th ef o rg eries an d frau d ul en t  re-regi st rat ions , he wa s ab l eto prove  thatt he ycould h av e only  b een  ex ecute d  wit h thedocument s sei z ed from our of f ices by the M o sc o w  I n teri orMinistry.
On t h e ba ck o f  S erg e i’s d iscov er i es ,  in early December20 07, we  file d six 255-pag e complain t s outlinin g al l  t h e details of t he fr auds and t h e namesof th e police  officers i nvolved.  Th e c omp lai n t swere filed wi t h  the  h eads of  th e three  ma inlaw  en fo rcement a genciesin  R us si a.Howev e r, inste ad  of  i nve stiga t ing, t hey p asse dth e  co mplaint s  s t r aigh tba ck t o t he  spec ific pol ice off icers nam eda s co ns pi rators.  Those office rs  then pers on all y init i a ted reta liatory criminal casesa gainstHer mitag e em ployees.
At  thispoi n t, Ser gei wa s bec om ing v isibl y an gry .Sergei was n ’ t a  disp as sion ate law yer like many we h a veencountered i n t he p a s t.  He wa s  ou ra dvo c a te in the trues t sense of  t h eword.

Byt hesu mmer of  2008 i t sti l l wasn’ t clear w hy the po li ce w o u ldbe involve d in suc h a compl i cated sc am ag ain st us.  I f t he in tentio n  wa s tostealth e fund ’s as se ts in Ru ssia, they had failed b ecause , bythe  time our  co m pan ies werestol en, the as set s h ad be ens afely  mov e dout s ide t he c o untry.

T o  h elp u sfind the an s w e r,Serge i s e nt out  mor e than 50 letters to different t ax a u t hor iti e s an dregistration o ffi ce s requesti ng  informatio n on our  s t olencompan ies. A lmost n o on e  repli ed,but  on June5,20 0 8, Serg ei  r e ceived  a l et ter th at bro k e th e case wide open.
Acco r d ing t o  th e let te r, whic h  was  from taxauthorities  in Kh imki , a s uburb o fMoscow , o ur  stolen co m panies ha d bee n re-re gi ster edin Khi mki, a nd ha d op en edbank acco u n ts at  t w o o bscu re Ru ss ianbanks. On c e we lea rne d  aboutth e b a n ks, ev e ry t h ing starte d t o mak e sense. Att hose ba n ks, S ergeifounda spike inde positsexa c t ly
 into_this call._After researching the situation,_he came_back_to us_with_shocking news. He_discovered that our_investment companies had been_sued by shell_companies_that we had never done any business with based on forged and backdated contracts._He_also discovered_that_the_fund’s companies had been represented_by lawyers that the fund_had never_hired, and who proceeded to plead guilty to_all_the liabilities in_the forged contracts. As a result, the fund’s companies_were hit with court judgments for_hundreds of millions_of_dollars._On top of that,_the fund’s companies had been fraudulently_re-registered in the name of a_company owned by a man convicted of_manslaughter.

Most shockingly, when Sergei analyzed the_forgeries and fraudulent re-registrations, he_was able_to prove that they could_have only been_executed with_the documents seized_from our offices by the Moscow_Interior Ministry.

On the_back of Sergei’s discoveries, in early_December_2007, we filed_six_255-page_complaints outlining_all the details_of_the frauds_and_the names of the police officers_involved._The complaints were filed with the heads_of the three main_law_enforcement agencies in Russia._However, instead of investigating, they_passed the complaints straight back to_the specific_police officers_named as conspirators. Those officers then personally initiated retaliatory criminal cases_against Hermitage employees.

At this point, Sergei_was becoming visibly angry._Sergei wasn’t_a_dispassionate lawyer like_many_we have_encountered in the past. He was our_advocate in_the truest sense of the word.

By_the summer of 2008_it_still wasn’t clear why the police_would be involved in such a_complicated scam against us. If_the_intention_was to steal the fund’s_assets in Russia, they had failed_because, by the_time our companies were stolen, the assets_had_been safely moved outside the country.

To_help_us find the answer, Sergei sent_out_more_than 50 letters to different_tax authorities and registration offices requesting_information on our stolen companies. Almost no one replied,_but on June_5, 2008, Sergei received a_letter_that_broke the case wide open.

According to the letter, which was_from tax_authorities in Khimki,_a suburb of Moscow, our stolen companies had been re-registered_in Khimki, and had opened bank accounts_at two obscure Russian banks. Once we learned about the banks,_everything started to make sense. At those banks,_Sergei found a spike in deposits exactly