Russian investigators have opened a criminal investigation against American-born British financier William Browder, the founder of Hermitage Capital Management, over setting up a criminal network, Spokesman for Russia’s Prosecutor-General’s Office Nikolai Atmonyev said on Monday.

"On November 16, an order was issued on launching a criminal case against Browder over the signs of establishing a criminal network and being its leader, this means the signs of a crime under Part 1 of Article 210 of the Russian Criminal Code," Atmonyev said.