clock menu more-arrow no yes mobile

Filed under:

Congressman Asks Treasury to Probe Prokhorov's Ties to Zimbabwe


A New Jersey congressman who has long objected to the Nets' move to Brooklyn wants the Treasury Department to investigate the ties between one of Mikhail Prokhorov's companies and the government of Zimbabwe, an African nation under heavy US economic and financial sanctions. 

Rep. William Pascrell, D-NJ, who represents parts of Bergen and Passaic counties, told the New York Post that Renaissance Capital, an investment bank that Prokhorov purchased a year ago, has interests in the Zimbabwean stock exchange, banks,  a cellphone company, mining and a private big-game reserve. It also was a financial sponsor of a 2009 economic forum in the Zimbabwean capital that provided foreign investors special access to government ministers. 

Experts told the Post both are violations of the sanctions.  Zimbabwe is viewed as one of the world's worst human rights violators. A spokesman for Renaissance Capital in Moscow told The Post that the question of Prokhorov's dealings in Zimbabwe did not come up during the NBA security checks.