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34-808: Its main investment fund, the Hermitage Fund created in 1996, was rated as extremely successful after earning 2,697% between 1996 and December 2007. Hermitage describes itself as an activist fund . Its tactics include the exposure of corporate corruption in the companies it is holding, in the hope of improving managerial behaviour and lessening the significant discount that corruption has on share prices. Most famously, Hermitage has helped to expose several high-profile cases of corruption in Russia's largest company Gazprom between 1998 and 2000. In October 2000, Hermitage reported that "investors are valuing this company as if 99 percent of its assets have been stolen. The real figure

68-791: A Russian arrest warrant for extradition placed him on Interpol's Red Notice. In November 2019, an article published by Der Spiegel detailed a critical account of inconsistencies it claims to have found with Bill Browder's stories. Activist shareholder Too Many Requests If you report this error to the Wikimedia System Administrators, please include the details below. Request from 172.68.168.133 via cp1102 cp1102, Varnish XID 113718111 Upstream caches: cp1102 int Error: 429, Too Many Requests at Fri, 29 Nov 2024 08:35:12 GMT Der Spiegel Der Spiegel ( German pronunciation: [deːɐ̯ ˈʃpiːɡl̩] , lit.   ' The Mirror ' , stylized in all caps )

102-472: A complaint with Cyprus anti-corruption agency Mokas regarding $ 31 million funds illegally moved from Russia through a chain banks in Cyprus. However, in 2015, Cyprus police passed the documents to Russian investigators in the alleged tax-evasion case of Magnitsky and Browder, widely described as a set-up. In 2013, Hermitage closed its Russian fund which in 2005 had over $ 4 billion in assets under management. In 2013,

136-724: A former Der Spiegel journalist who said "some of the articles at issue appeared to confirm certain German stereotypes about Trump voters, asking "was this possible because of ideological bias?" An apology ensued from Der Spiegel for looking for a cliché of a Trump-voting town, and not finding it. Mathias Bröckers , former Die Tageszeitung editor, wrote: "the imaginative author simply delivered what his superiors demanded and fit into their spin". American journalist James Kirchick claimed in The Atlantic that " Der Spiegel has long peddled crude and sensational anti-Americanism." In

170-435: A grand scale". When Stefan Aust took over in 1994, the magazine's readers realized that his personality was different from his predecessor. In 2005, a documentary by Stephan Lamby quoted him as follows: "We stand at a very big cannon!" Politicians of all stripes who had to deal with the magazine's attention often voiced their disaffection for it. The outspoken conservative Franz Josef Strauss contended that Der Spiegel

204-501: A partner of the legal company Firestone Duncan, who was a representative and legal consultant for William Browder in Moscow, having been accused in tax fraud and imprisoned for 11 months, died in prison. In 2013 it was announced that Magnitsky will go on trial posthumously. Opalesque.TV released a video on 8 February 2010 in which Browder reveals details of Sergey Magnitsky's ordeal during his eleven months in detention. In 2012, Hermitage filed

238-618: Is a British Virgin Islands (BVI) company that CTL established in 2007 for G.S.L. Law & Consulting which is a firm in Russia, Hermitage Capital Management sent a letter to Commonwealth Trust Limited (CTL) claiming that thieves had taken control of Hermitage's three subsidiaries. One of the companies, Diron Trade LLP , a stolen Magnitsky company with a Great Britain postal box, assisted in more than $ 5.8 billion in money laundering transfers between Swedbank 's baltic subsidiaries and Danske Bank during 6 months in 2010 and 2011 according to SVT . As

272-615: Is a German weekly news magazine published in Hamburg . With a weekly circulation of about 724,000 copies in 2022, it is one of the largest such publications in Europe. It was founded in 1947 by John Seymour Chaloner , a British army officer, and Rudolf Augstein , a former Wehrmacht radio operator who was recognized in 2000 by the International Press Institute as one of the fifty World Press Freedom Heroes . Der Spiegel

306-553: Is around 10 percent so that's good news." In April 2007, the firm launched Hermitage Global , an activist fund focused on global emerging markets. Since 2015, Hermitage has operated as a family office hedge fund based in London, having returned outside capital to investors. The focus of the fund is still in emerging markets. Although the fund's founder William Browder was a supporter of Russian president Vladimir Putin , in November 2005 he

340-455: Is based on two pillars; firstly the moral authority established by investigative journalism since the early years and proven alive by several scoops during the 1980s; secondly the economic power of the prolific Spiegel publishing house. Since 1988, it has produced the TV program Spiegel TV , and further diversified during the 1990s. During the second quarter of 1992 the circulation of Der Spiegel

374-616: Is known in German-speaking countries mostly for its investigative journalism . It has played a key role in uncovering many political scandals such as the Spiegel affair in 1962 and the Flick affair in the 1980s. According to The Economist , Der Spiegel is one of continental Europe 's most influential magazines. The news website by the same name was launched in 1994 under the name Spiegel Online with an independent editorial staff. Today,

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408-636: The International Consortium of Investigative Journalists , Paper Trail Media  [ de ] and 69 media partners including Distributed Denial of Secrets and the Organized Crime and Corruption Reporting Project (OCCRP) and more than 270 journalists in 55 countries and territories to produce the ' Cyprus Confidential ' report on the financial network which supports the regime of Vladimir Putin , mostly with connections to Cyprus, and showed Cyprus to have strong links with high-up figures in

442-461: The New York Times reported in 2008, over the next two years, several of his associates and lawyers, as well as their relatives, were victims of crimes, including severe beatings and robberies during which documents were taken. In June 2007, dozens of police officers raided the Moscow offices of Hermitage and its law firm, confiscating documents and computers. When a member of the firm protested that

476-603: The British, the magazine was handed over to Rudolf Augstein as chief editor, and was renamed Der Spiegel . From the first edition in January 1947, Augstein held the position of editor-in-chief, which he retained until his death on 7 November 2002. After 1950, the magazine was owned by Rudolf Augstein and John Jahr; Jahr's share merged with Richard Gruner's in 1965 to form the publishing company Gruner + Jahr . In 1969, Augstein bought out Gruner + Jahr for DM 42 million and became

510-848: The General Prosecutor's Office of the Russian Federation, she was investigating Bill Browder and Hermitage Capital, but denied working for the Kremlin. In May 2018, Bill Browder praised the Magnitsky amendment to the Proceeds of Crime Act released in the United States calling for "swift and robust action" adding that "top Putin oligarchs should be on that list". Also in May, Browder was briefly detained in Spain when

544-510: The Kremlin, some of whom have been sanctioned. Government officials including Cyprus president Nikos Christodoulides and European lawmakers began responding to the investigation's findings in less than 24 hours, calling for reforms and launching probes. On 19 December 2018, Der Spiegel made public that reporter Claas Relotius had admitted that he had "falsified his articles on a grand scale", inventing facts, persons and quotations in at least 14 of his stories. The magazine uncovered

578-492: The content is created by a shared editorial team and the website uses the same media brand as the printed magazine. The first edition of Der Spiegel was published in Hanover on Saturday, 4 January 1947. Its release was initiated and sponsored by the British occupational administration and preceded by a magazine titled Diese Woche (German: This Week ), which had first been published in November 1946. After disagreements with

612-402: The course of this investigation, the editorial offices were raided by police while Rudolf Augstein and other Der Spiegel editors were arrested on charges of treason. Despite a lack of sufficient authority, Strauss even went after the article's author, Conrad Ahlers  [ ar ; arz ; cs ; fr ; de ; no ; pl ] , who was consequently arrested in Spain where he was on holiday. When

646-546: The federal parliament launched an inquiry into Spiegel ' s accusations that bribed members of parliament had promoted Bonn over Frankfurt as the seat of West Germany's government. During the Spiegel scandal in 1962, which followed the release of a report about the possible low state of readiness of the German armed forces , minister of defense and conservative figurehead Franz Josef Strauss had Der Spiegel investigated. In

680-426: The fraud after a co-author of one of Relotius's stories, Juan Moreno, became suspicious of the veracity of Relotius's contributions and gathered evidence against him. Relotius resigned, telling the magazine that he was "sick" and needed to get help. Der Spiegel left his articles accessible, but with a notice referring to the magazine's ongoing investigation into the fabrications. The Wall Street Journal cited

714-543: The fund was evaluated as having less than $ 60 million in assets. Closing the fund led to a dispute between investors and HSBC which was a manager and trustee of the fund. In December 2017, Browder and Cherkasov were sentenced in absentia to 9 years and 8 years of imprisonment respectively by a Russian court for tax evasion by Hermitage Capital Management and causing $ 58 million of damage to the Russian federal budget. In April 2018, Natalia Veselnitskaya announced that on behalf of

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748-663: The help of former NSA contractor Edward Snowden unveiled the systematic wiretapping of Chancellor of Germany Angela Merkel 's private cell phone over a period of over 10 years at the hands of the National Security Agency 's Special Collection Service (SCS). According to a 2013 report by The New York Times , the magazine's leading role in German investigative journalism has diminished, since other German media outlets, including Süddeutsche Zeitung , Bild , ARD and ZDF , have become more involved in investigative reporting. In November 2023, Der Spiegel joined with

782-467: The legal case collapsed, the scandal led to a major shake-up in chancellor Konrad Adenauer 's cabinet, and Strauss had to stand down. The affair was generally received as an attack on the freedom of the press. Since then, Der Spiegel has repeatedly played a significant role in revealing political grievances and misdeeds, including the Flick Affair . The Spiegel scandal is now remembered for altering

816-591: The magazine. In 2010 Der Spiegel was employing the equivalent of 80 full-time fact checkers , which the Columbia Journalism Review called "most likely the world's largest fact checking operation". The same year it was the third best-selling general interest magazine in Europe with a circulation of 1,016,373 copies. In 2018, Der Spiegel became involved in a journalistic scandal after it discovered and made public that one of its leading reporters, Claas Relotius , had "falsified his articles on

850-430: The old town part of Hamburg. Der Spiegel 's circulation rose quickly. From 15,000 copies in 1947, it grew to 65,000 in 1948 and 437,000 in 1961. It was nearly 500,000 copies in 1962. By the 1970s, it had reached a plateau at about 900,000 copies. When the German reunification in 1990 made it available to a new readership in former East Germany , the circulation exceeded one million. The magazine's influence

884-556: The political culture of post-war Germany and—with the first mass demonstrations and public protests—being a turning point from the old Obrigkeitsstaat ( authoritarian state) to a modern democracy . In 2010, the magazine supported WikiLeaks in publishing leaked materials from the United States State Department , along with The Guardian , The New York Times , El País , and Le Monde and in October 2013 with

918-412: The role of opinion leader in the German press. Der Spiegel has a distinctive reputation for revealing political misconduct and scandals. Online Encyclopædia Britannica emphasizes this quality of the magazine as follows: "The magazine is renowned for its aggressive, vigorous, and well-written exposés of government malpractice and scandals." It merited recognition for this as early as 1950 when

952-492: The search was illegal, he was beaten by officers and hospitalized for two weeks. Hermitage became victim of what is known in Russia as "corporate raiding": seizing companies and other assets with the aid of corrupt law enforcement officials and judges. Three Hermitage holdings companies were seized on what the company's lawyers insist are bogus charges. On 8 October 2008, Hermitage released a video on YouTube accusing Russian police of fraud. On 16 November 2009, Sergei Magnitsky ,

986-434: The sole owner of Der Spiegel . In 1971, Gruner + Jahr bought back a 25% share in the magazine. In 1974, Augstein restructured the company to make the employees shareholders. All employees with more than three years seniority were offered the opportunity to become an associate and participate in the management of the company, as well as in the profits. Since 1952, Der Spiegel has been headquartered in its own building in

1020-573: The summer of 2022, Der Spiegel published three articles and a podcast regarding the death of a refugee girl on an islet in the Evros river at the Greece–Turkey borders, accusing Greece of failing to aid the refugees which caused the girl's death. But at the end of December 2022, the magazine retracted the articles and the podcast. In 2023, the Swiss newspaper Neue Zürcher Zeitung (NZZ) wrote that this story

1054-485: Was blacklisted by the Russian government as a "threat to national security" and denied entry to the country. According to publication in The Economist , the fund was blacklisted because its management interfered with the flow of money to "corrupt bureaucrats and their businessmen accomplices" in Russia. In April 2008, because three of Hermitage Capital's subsidiaries had been placed under control of Boily Systems, which

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1088-857: Was "one of the largest fake news breakdowns since Claas Relotius." In January 1978 the office of Der Spiegel in East Berlin was closed by the East German government following the publication of critical articles against the conditions in the country. A special 25 March 2008 edition of the magazine on Islam was banned in Egypt in April 2008 for publishing material deemed by authorities to be insulting Islam and Muhammed . Der Spiegel began moving into its current head office in HafenCity in September 2011. The facility

1122-524: Was "the Gestapo of our time". He referred to journalists in general as "rats". The Social Democrat Willy Brandt called it "Scheißblatt" (i.e., a "shit paper") during his term in office as Chancellor . Der Spiegel often produces feature-length articles on problems affecting Germany (like demographic trends, the federal system's gridlock or the issues of its education system) and describes optional strategies and their risks in depth. The magazine plays

1156-484: Was 1.1 million copies. In 1994, Spiegel Online was launched. It had separate and independent editorial staff from Der Spiegel . In 1999, the circulation of Der Spiegel was 1,061,000 copies. Der Spiegel had an average circulation of 1,076,000 copies in 2003. In 2007 the magazine started a new regional supplement in Switzerland . A 50-page study of Switzerland, it was the first regional supplement of

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