PDF Summary:Freezing Order, by Bill Browder

In Freezing Order, Bill Browder exposes the corruption and human rights abuses at the heart of the Russian government. Tracing the events that led to the death of Sergei Magnitsky, an anti-corruption lawyer, Browder uncovers a vast money laundering scheme involving $230 million stolen from Russian state funds.

Browder recounts his tireless efforts to trace the money trail through international banks, enact the "Magnitsky Act" sanctions targeting human rights abusers, and take legal action against entities involved in the fraud -- all while facing constant threats and intimidation from Russian authorities determined to stop him.

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Browder's steadfast efforts ultimately bore fruit. The movement originated in the United States and later secured support from nations including Canada and the UK, as well as the European Union. The Magnitsky Act was unanimously endorsed by all 277 members of the Canadian House of Commons, leading to its ratification and subsequent transformation into law after receiving the Senate's approval. Several other countries, such as Lithuania and Latvia, took similar legislative steps after Canada. The European Union, along with Australia, has implemented laws referred to as measures similar to the Magnitsky Act.

As a congressional staff member with significant expertise in Russian affairs, Kyle Parker was instrumental in the formulation of the US Magnitsky Act. His participation was instrumental in the development of the Magnitsky List, a register that required his expertise to identify individuals for potential inclusion.

The Magnitsky Acts pose a substantial threat to the wealth and freedoms of individuals in Putin's close-knit group, consequently putting the firmness of Russia's ruling elite at risk.

The Magnitsky Acts have significantly restricted the activities of the Russian government and those in President Putin's inner circle. The sanctions are designed to impede Russian officials from indulging in Western comforts and financial privileges by restricting their access to assets and luxury. The implementation of the Magnitsky Act emerged as a significant point of contention, perceived as a challenge to the strength of Putin's governance. The revelation of a fraudulent operation that diverted 230 million dollars, along with the subsequent methods employed to cleanse that money, accelerated the push for global legislative measures.

Russia responded to the legislative measures with confrontation. Putin's rapid and harsh retaliation, which involved banning Americans from adopting Russian children in need of care, highlighted his readiness to go to great lengths to protect his government representatives.

He persisted in his attempts to undermine the laws referred to as the Magnitsky Acts. Putin dismissed the accusations about the abuse of Sergei Magnitsky, claiming his death was due to cardiac arrest, a declaration intended to weaken the justification for the sanctions. Furthermore, Putin saw the global adoption of the Magnitsky Act, targeting corrupt entities and those infringing on human rights across the globe, as a significant challenge to his ongoing authority.

He actively contested the Magnitsky Act as a member of Congress. The unsettling event led to the Act's schedule coming to an unexpected halt in Congress. Rohrabacher also forwarded a letter to the House Foreign Affairs Committee, disparaging Bill Browder and lobbying to remove Magnitsky's name from the title of the law—a goal aligned with Putin's desire to not only abolish the initial legislation but to also obliterate any memory associated with Magnitsky.

The White House, State Department, and a group of legislators, which included Senator Roger Wicker and others, stood resolutely opposed to the retaliatory actions initiated by Russia's leader. The entire chamber of U.S. lawmakers swiftly and unanimously expressed their disapproval of the prospect of American citizens facing questioning as suggested by Putin, solidly backing the Magnitsky Act and unequivocally dismissing the idea of the author being interrogated.

Chairman Royce further ensured the protection of the Magnitsky Act by halting a subcommittee hearing set up by Rohrabacher and declaring a broader conversation to explore the complex nuances of the bilateral ties shared by the United States and Russia.

Browder's advocacy has been pivotal in cementing the Magnitsky Acts' prominence in international affairs, serving as a robust deterrent to malpractice and abuses of human rights, thereby greatly reinforcing the lasting impact of Sergei Magnitsky. The shared resolve of various countries to uphold these statutes demonstrates a worldwide commitment to challenging those who believe they can act with impunity, as well as the author's relentless efforts.

Bill Browder was involved in legal disputes on U.S. territory with organizations and individuals associated with Russia.

Bill Browder has consistently pursued legal proceedings in the United States, adopting a resolute stance against organizations linked to Russia that are believed to be involved in money laundering and violations of laws like the Foreign Agents Registration Act (FARA).

Browder filed a complaint alleging that the US Department of Justice failed to comply with the requirements of the legislation governing the registration of foreign agents.

Bill Browder has leveled accusations against various individuals and organizations for engaging in illegal lobbying activities within the United States aimed at countering the Magnitsky Act, alleging that these entities have ties to Russia.

Browder asserted that various organizations and individuals connected to Russia undertook lobbying activities to counter the Magnitsky Act and failed to comply with the registration obligations mandated by FARA. The presentation by Mark Cymrot to the House Foreign Affairs Committee members and the letters from Dana Rohrabacher align with the Russian government's campaign to spread false information. Juleanna Glover provided guidance to Browder regarding the possible breaches of the Foreign Agents Registration Act by those who could be spreading Russian propaganda in the US, which led to a detailed discussion on the legal ramifications of these activities. Browder's legal action names Mark Cymrot, Glenn Simpson, and Ron Dellums, alleging that they were acting under the direction of Russian authorities. Browder works closely alongside the Department of Justice's counterespionage unit and Senator Grassley's office to bring attention to these issues.

Browder provided U.S. authorities with evidence that Prevezon, a Russian company, was implicated in the laundering of funds amounting to a quarter of a billion dollars, originating from fraudulent schemes.

The Southern District of New York commenced a legal action for civil forfeiture, which led to the confiscation and immobilization of Prevezon's assets in the United States.

Browder's legal team presents evidence to US authorities concerning Prevezon, a Russian company implicated in the illegal laundering of money linked to the fraud exposed by Sergei Magnitsky, which totaled $230 million. Acting on information provided by Browder, Swiss officials confiscated assets belonging to Prevezon, valued at $7 million, that were deposited at UBS, marking a significant action taken against the company. Legal action to confiscate Prevezon's assets within the United States was commenced by the Southern District of New York after a thorough examination of their unauthorized financial operations. Bill Browder worked in close partnership and offered his testimony to the legal teams of the Southern District of New York for their case. Browder maintains that Prevezon must justify their control over funds obtained unlawfully, culminating in a settlement in which they consented to pay out $5.9 million. The Southern District of New York substantiated key allegations from Nikolai, who possessed direct experience with the circumstances, linking the $230 million fraud in Russia to the New York assets just prior to the trial's onset.

Financial institutions and global banks have been instrumental in giving legitimacy to funds of dubious origin from Russia.

The article explores the complex web of international banks and financial institutions implicated in the cleansing of Russian funds, particularly those associated with the infamous Magnitsky case.

The investigation led by Browder meticulously traced the path of the $230 million as it moved through a network of banks and corporations across Europe and America.

Investigations led by Bill Browder have unraveled the dispersal of $230 million through a labyrinth of banks and shell companies, revealing the international expanse of Russian money laundering.

Browder reveals how significant financial institutions such as Danske Bank, Swedbank, and SEB were implicated in handling illegally obtained money.

Bill Browder's thorough investigations revealed the involvement of well-known financial institutions including Danske Bank, Swedbank, and SEB in managing funds that were obtained inappropriately.

Numerous Swiss financial institutions have become entangled in the scandal, particularly concerning the freezing of funds associated with the Magnitsky affair. U.S. officials instructed major financial institutions such as JPMorgan and Citibank to pinpoint the individuals who ultimately reaped financial gains from the illicitly obtained $230 million. Initial responses from these banks were notably deficient, lacking comprehensive data and crucial time frames, which necessitated further demands for precise information.

Vadim, a key figure in the inquiry, conducted a thorough examination of numerous transactions involving a wide range of companies and international banks to track the movement of money. The schemes for laundering money employed a complex web of dummy corporations and sophisticated monetary maneuvers to obscure the origins of the capital. The misappropriated money frequently traveled through countries like Moldova and Cyprus, along with the Baltic states, before accumulating in Western nations including the United States and France, where it was funneled into financial institutions, real estate, and luxury items.

The accumulation of solid evidence, such as authentic bank records and monetary transactions, reinforced the case, vividly demonstrating the widespread nature of the illegal financial operations that extended through numerous European countries and the United States.

Vadim, collaborating with officials from France and Moldova, revealed over forty-three thousand financial transactions, demonstrating that the aforementioned illicit $200 million had been channeled through a network of 20 sham companies, all linked to a specific branch of Danske Bank in Estonia. Danish investigative reporters Eva Jung and Michael Lund expanded upon the findings with their own research, revealing the complicity of a significant Danish bank in a decade-long pattern of unsanctioned financial activities, as detailed in their reporting on the Russian Laundromat exposure.

SEB and Swedbank have also been implicated, with accusations that they enabled the movement of $42 billion and $28 billion through illicit means, respectively. Swedbank was implicated in the movement of $18 million in funds linked to the Magnitsky case.

The disclosure of widespread operations designed to channel funds from Russia via Western financial institutions resulted in regulatory changes and sparked inquiries.

The ripple effect of these exposures has incited significant investigations and institutional introspection within Denmark and beyond, with resignations of top banking executives and amplified calls for transparent financial operations. Following the revelations, Denmark launched a significant criminal probe that broadened its scope to include other banks in Scandinavia, leading to further inquiries into the pervasive facilitation of unauthorized financial activities.