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Bill browder author red notice7/6/2023 ![]() ![]() When the police wouldn’t help, Browder used his own and his team’s investigative talents to prove the wrongdoing. Thanks to this success, high-powered Russians started coming after his fund’s assets using illegal methods. ![]() He then founded his own fund in Moscow, Hermitage Capital, which was very successful: by 1993 it was the largest foreign corporate investor in Russia. ![]() As he observes: “Instead of 150 million Russians sharing the spoils of mass privatisation, 22 Russian oligarchs ended up owning 39% of the economy, while everyone else was in poverty.”īrowder was in the right place at the right time, and astute enough to recognise the opportunity to make millions for Salomon Brothers. Through Browder we learn how the Russian government (under Boris Yeltsin) botched the privatisation of the nation’s economy through its voucher trading programme and how the Oligarchs were able to hijack this to become billionaires. For South Africans it is also a lesson in how not to privatise public companies, and an eye-opener about the extraordinary levels of corruption in Russia.Īuthor Bill Browder was a young American investment banker who took a special interest in Eastern Europe and Russia just after these countries opened for business in the early 1990s. Similar to Michael Lewis’s Liar’s Poker, Red Notice is a fascinating true story about the dangers of high finance. ![]() Exposing lies, corruption and murder in Russia. ![]()
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