Alex Krainer - Grand Deception: The Browder Hoax

Global Alternative Investment Management

German word, schadenfreude, meaning gladness at someone elses misfortune would be more appropriate here but English language does not have the equivalent word.

Bain and Company

Primarily the countries of Eastern Europe and the Soviet Union

A very fortuitous circumstance what were the odds?

The firm in question was Sidanco but here the story has a small inconsistency. At first, the conflict is over a dilutive Sidanco share issue (p. 111). Upon resolution, Browder cites a Financial Times headline, Watchdog Annuls Sidanco Bond Issue.

Second lieutenant Dr. John Patrick Jack Ryan, a CIA agent, is the quintessential American hero created by author Tom Clancy in his novels. Ryan is an intelligent, courageous and moral hero committed to fighting against evil forces in the world. His heroics inspired a number of successful Hollywood films.

United Energy System

In fact, in the next chapter hell show that hes rather bitter about this: Id spent the previous ten years painstakingly building my business brick by brick, foregoing a social life, treating weekends like work days, all to create a $4.5 billion investment-advisory business. I couldnt let the cancellation of my visa destroy it in one fell swoop. (164)

HSBC took Edmond Safras role as Browders business partner after buying out Safras Republic National Bank of New York.

According to Browder, this story broke on 17 March 2006. (179)

Browder tells us on p. 188 of Red Notice that by the end of April 2007 he had raised $625 million. Hedge funds used to charge their investors a 2% annual management fee. With $625 million under management, Browder could look forward to generating over $1 million per month in revenues. Thats before so-called performance fees kick in, which are usually 20% of any gross capital gains.

Im not sure why Browder tells us that Maxim was beaten up. In a Hermitage Capital presentation dated March 2009, leaked by Wikileaks the person beaten by Kuznetsovs cops was identified as Victor Poryugin. In other words, in his book Browder changes this mans identity for some reason. Could it be so that some curious someone couldnt look up Poryugin and inquire about his version of events?

Firestones partner was Terry Duncan who got killed during the 1993 attempted coup. Browder claims Duncan paid with his life for attempting to evacuate the wounded.

Browder told us as much in chapter 22 (p. 188). The typical fee structure for global macro hedge funds at the time was 2+20, which meant that the manager earned an annual 2% management fee (i.e. $20,000 per million of assets under management) and a 20% cut of gross returns. This implied that Browder could be looking forward to earning at least $1 million per month.

Specifically, the raiders would be able to take control of a firm by stealing its corporate seals, its original charters of incorporation, the certificate of registration with state registrar, and the certificate of registration with the tax authority.

For simplicity I will refer to these stolen companies as Browders. For the sake of accuracy, they were probably owned by his clients or their representatives in Russia and Browder or his firm merely administered them on his clients behalf.

(Murray 2016)

Here, Browder contents himself to tell us that they sent the complaints to every law enforcement and regulatory agency in Russia. He was much more specific about the legal complaints his team filed on 3rd December 2007, telling us exactly where they sent how many copies (see p. 210).

His most recent article on Echo Moscow website was dated 24th August 2016.

In fact, western media are arguably less free than those of Russia. As I write these lines (September 2016), the U.S. presidential campaign is underway and in the recent weeks at least two journalists in the U.S. have lost their jobs for daring to question the U.S. establishment candidate Hillary Clintons health.

Browder insists on presenting Magnitsky as a lawyer although he was an accountant and worked for Firestone Duncan as an auditor, not lawyer.

Id like to meet another secretary who of her own initiative makes a copy of the waybill when they receive a box from DHL?

Midnight Express was a 1978 film about a young American student who got caught in Turkey for attempting to smuggle drugs out of Turkey. The film portrays Turkish justice system, police and prison in a disturbingly unflattering light.

In fact, I suspect that Lee Child played a role in ghostwriting the Red Notice. He lent his name to Browders credibility with the front cover blurb stating that Red Notice, reads like a classic thriller but its all true and its a story that needs to be told.

I thought it quaint that Khayretdinov could buy his ticket in cash, handing over nearly 57,000 roubles (about 1,500 British pounds) to the lady at the counter, who took the money without any reaction, handed him his ticket with a smile and wished him a good trip. In the free world, she would probably have had to file a suspicious activityreport of one kind or another, file it with the transportation security authority and Khayretdinov would likely get to spend a few hours detained, forced to explain himself to a bunch of government goons.

As well later find out, Browders account is far from truthful.

Whether Browders characterization of Major Silichenko is fair or unfair, unfortunately we cannot tell.

I do hope that this part of Browder was very nearly all of him because if too much of Browder actually preferred for Magnitsky to go on protecting him at the cost of his own life, I would be much less impressed with his humanity.

Browder uses the word documented, probably to make it sound more compelling, but I question how much of a major financial fraud you could document in only 12 pages.

Which at one time allegedly employed Browders own grandfather.

I thought it was odd that Browder did not share with us hardly any part of Magnitskys diaries.

LOL

The two policemen who who were investigating Browders firms and whom Browder held responsible for Sergei Magnitskys death.

However, as Andrei Nekrasov later showed in his documentary film, The Magnitsky Act Behind the Scenes, Browders claims about these officials salaries were not truthful. For example, Browder claims that Pavel Karpov was earning $6,000 per year. In fact, Karpov was earning that much per month ! This could not have been an innocent error since it makes a very material difference to Browders argument.

Ordinarily in the hedge fund business, as soon as your clients suspect that you are losing focus, they are likely to redeem their investments. Browder and his team clearly werent too worried about this and one wonders if their clients whoever they were werent just sponsoring them to focus on the work of demonizing Russia as their full time occupation.

One interesting lead was offered by the former French intelligence operative Paul Barril who stated in an interview that the British intelligence agency MI6 and the CIA ran a program codenamed Operation Beluga whose objective was to discredit Russia and Vladimir Putin and that Litvinenko was assassinated in order to frame Russian leadership. Litvinenkos associate Boris Berezovsky, Russian oligarch in exile in London was a party to the operation and was subsequently also killed when he became a risk to expose the operation (Source: Bombshell: French Counter-Terror Boss: I have proof who killed Litvinenko OpEd News, 27 March 2016).

Recall, just in 2007, Hermitage Capital earned $937 million in profits!

George W. Bush spoke these words before the U.S. Congress on 21 September 2001. The nations around the world were given the choice: support us in whatever we chose to do or well consider you our adversaries...