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Russian court frees U.S. investor Calvey from jail
Source: Reuters
WORLD NEWS APRIL 11, 2019 / 9:18 AM / UPDATED 22 MINUTES AGO
Russian court frees U.S. investor Calvey from jail
Gabrielle Tétrault-Farber, Tom Balmforth
3 MIN READ
MOSCOW (Reuters) - A Russian court released U.S. investor Michael Calvey on Thursday 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 pending a trial on embezzlement charges that he denies and that he says are being used to pressure him in a corporate dispute over control of a Russian bank.
“Despite this corporate conflict that has led to criminal prosecution, I would like to underline what I have always said: I continue to believe in Russia’s investment potential,” Calvey said from a glass cage in the court.
-snip-
Russian court frees U.S. investor Calvey from jail
Gabrielle Tétrault-Farber, Tom Balmforth
3 MIN READ
MOSCOW (Reuters) - A Russian court released U.S. investor Michael Calvey on Thursday 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 pending a trial on embezzlement charges that he denies and that he says are being used to pressure him in a corporate dispute over control of a Russian bank.
“Despite this corporate conflict that has led to criminal prosecution, I would like to underline what I have always said: I continue to believe in Russia’s investment potential,” Calvey said from a glass cage in the court.
-snip-
Read more: https://www.reuters.com/article/us-russia-business-detention/russian-court-frees-u-s-investor-calvey-from-jail-idUSKCN1RN1QQ
