Has Russian Become A Criminal State?

Photo: Vladimir Putin won the 2000 Russian presidential election

Russia 'Is Now A Criminal State', says Bill Browder -- BBC

Russia has now turned into a "criminal state", according to the man who was once its leading foreign investor.

Bill Browder of Hermitage Capital was reacting to the news that his lawyer had died in prison in Russia after being held for a year without charge.

He told the BBC that his lawyer, Sergei Magnitsky, had in effect been "held hostage and they killed their hostage."

Through Hermitage Capital, Bill Browder campaigned against corruption at some of Russia's largest companies.

Russian officials say they are investigating Mr Magnitsky's death.

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Update: Russia corruption costs $318 billion – one-third of GDP -- Christian Science Monitor

My Comment: I hate to say it .... but the answer is yes. The culture of corruption is so pervasive throughout the country that it has now become institutionalized. I know a number of people who have tried to do business in Russia .... a pharmacy chain in St. Petersburg, a golf course in Moscow, etc. .... everyone was confronted by criminal gangs, corrupt employees, and a dysfunctional police/legal system.

What is lacking in Russia is a legal system that is functional, protected, and independent from the state. As long as Russia does not have such a system, corruption and crime will rule the economic growth and development of Russia. And for every entrepreneur who wishes to accomplish something .... they will come to the same conclusion that I did long ago .... best to do it elsewhere.