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Russia: Moscow Court places US investor Calvey under house arrest 02:25

Russia: Moscow Court places US investor Calvey under house arrest

Russian Federation
April 11, 2019 at 16:31 GMT +00:00 · Published

Russia: Moscow Court places US investor Calvey under house arrest

American investor Michael Calvey was placed under house arrest by Moscow's Basmanny court on Thursday. He was previously detained in custody.

The decision was made following a request from Russia’s Investigative Committee.

“We continue to stress that the innocence of Michael and his colleagues will be proven due to the absence of a crime. And we have a certain confidence that, as a result, that the criminal case concerning Michael and his colleagues will be dismissed,” Calvey’s lawyer Savochkin said.

Baring Vostok founder Michael Calvey was detained in mid-February in connection with a "large-scale fraud" probe alongside five other employees of Baring Vostok. Calvey was to be detained until 13 April.

According to TASS, Calvey and the other suspects are accused of embezzling 2.5 billion roubles ($37, €33m) from Vostochny Bank.

Russia: Moscow Court places US investor Calvey under house arrest 02:25
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Russia: Moscow Court places US investor Calvey under house arrest

American investor Michael Calvey was placed under house arrest by Moscow's Basmanny court on Thursday. He was previously detained in custody.

The decision was made following a request from Russia’s Investigative Committee.

“We continue to stress that the innocence of Michael and his colleagues will be proven due to the absence of a crime. And we have a certain confidence that, as a result, that the criminal case concerning Michael and his colleagues will be dismissed,” Calvey’s lawyer Savochkin said.

Baring Vostok founder Michael Calvey was detained in mid-February in connection with a "large-scale fraud" probe alongside five other employees of Baring Vostok. Calvey was to be detained until 13 April.

According to TASS, Calvey and the other suspects are accused of embezzling 2.5 billion roubles ($37, €33m) from Vostochny Bank.