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Moscow City Court leaves American investor Michael Calvey in custody

Russia: Supreme Court lifts house arrest of US investor Michael Calvey

Moscow City Court leaves American investor Michael Calvey in custody

Investigators accused Calvey, founder of Baring Vostok Capital Partners, of stealing 2.5 billion rubles

A Russian court on Thursday ruled that prominent American investor Michael Calvey should remain in custody pending trial.Moscow City Court leaves American investor Michael Calvey in custody Thus, his appeal for bail or house arrest was rejected..

Calvey, 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 RUB 2.5 billion ($ 38.09 million)..

Michael Calvey denies the accusations he says serve to pressure him in a business dispute over a Russian bank where Calvey is a board member..

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