Russian court lets US investor Calvey out of jail

US investor and founder of the Baring Vostok private equity group Michael Calvey, who was detained on suspicion of fraud, leaves the court after his hearing in Moscow, Russia April 11, 2019. Picture taken through a window. — Reuters pic
US investor and founder of the Baring Vostok private equity group Michael Calvey, who was detained on suspicion of fraud, leaves the court after his hearing in Moscow, Russia April 11, 2019. Picture taken through a window. — Reuters pic

MOSCOW, April 11 — A Russian court today released US investor Michael Calvey after two months in jail and placed him under house arrest until Saturday, softening his treatment in a fraud case that has rattled investors.

It was not immediately clear what would happen after Saturday.

Calvey, founder of the Baring Vostok private equity group, was detained in February on embezzlement charges that he denies and that he says are being used to put pressure on him in a corporate dispute over control of a Russian bank. — Reuters

Source: The Malay Mail Online



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