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Russian court denies detained US investor Calvey bail
Calvey, a founder of Baring Vostok Capital Partners, was detained earlier this month along with three other executives from his private equity group after investigators accused them of stealing 2.5 billion roubles ($38.09 million).
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Founder of the Baring Vostok private equity group Michael Calvey is seen on a screen via a video link during a court hearing of an appeal against his detention in Moscow, Russia February 28, 2019. The sign reads (Reuters/Tatyana Makeyeva)
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Russian court on Thursday ruled that prominent US investor Michael Calvey should remain in custody pending trial, rejecting his appeal to be released on bail or moved to house arrest.
Calvey, a founder of Baring Vostok Capital Partners, was detained earlier this month along with three other executives from his private equity group after investigators accused them of stealing 2.5 billion roubles ($38.09 million).
He denies the allegations, which he says are intended to pressure him in a business dispute over a Russian bank where he is a board member.
