News

Switzerland's Office of the Attorney General, or OAG, on Tuesday officially closed the book on its investigation into how a large share of the $230 million generated by a high-profile tax-fraud scheme in Russia more than a decade ago came to rest in Swiss bank accounts. The OAG first disclosed plans to close the inquiry in November, 12 years after Muscovite attorney Sergei Magnitsky first alleged that mid-level officials in Russia had plotted with organized crime to fraudulently claim the sum as a rebate for taxes paid by his client, Hermitage Capital Management, then move the funds into Switzerland and...