25 January 2013 – Estonian authorities have discovered that $10 million of the $230 million of funds stolen from the Russian government and uncovered by Sergei Magnitsky had been transferred through Estonia according to public prosecutor Piret Paukštys. The discovery of funds was reported by Baltic Business News yesterday (http://balticbusinessnews.
It was also reported that the Estonian authorities had found that ten different companies have been used to transfer the money, according to the Business TASS agency in Talinn (http://www.biztass.ru/news/
According to the Estonian authorities, the money was wired via internet banking to various persons in other jurisdictions.
“The uncovering of the trail of money is a substantial breakthrough in the investigation of the criminal conspiracy exposed by Hermitage and Sergei Magnitsky,” said Hermitage Capital representative.
In total, $230 million that had been paid in taxes to the Russian government by the Hermitage Fund in 2006 was stolen the following year from the Russian treasury by a group of corrupt Russian officials working together with organized criminals. Sergei Magnitsky discovered and testified about the thefts and was subsequently arrested and killed in Russian police custody at the age of 37. Three years later, no one has been convicted for his death.
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