Russia Threatens HSBC in Police Inquiry, Hermitage Says
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Russian police are threatening to seize documents unless HSBC Holdings Plc hands over information required for a criminal investigation into Hermitage Capital Management Ltd., the investment fund said.
Under a new criminal case alleging “fraudulent actions,” Russia’s Interior Ministry is demanding that HSBC’s Moscow unit provide financial and banking information about the fund’s companies dating back to 1996, Hermitage said in an e-mailed statement today. Otherwise, the documents can be taken by force, it said, citing a request from the ministry to HSBC.