August 15, 2019 / 12:41 PM / 3 months ago

U.S. investor Calvey to stay under house arrest: Moscow court

U.S. investor and founder of the Baring Vostok private equity group Michael Calvey, who is under house arrest on suspicion of fraud, attends a court hearing in Moscow, Russia August 15, 2019. REUTERS/Evgenia Novozhenina

MOSCOW (Reuters) - A court in Moscow ruled on Thursday to keep U.S. investor Michael Calvey under house arrest, facing charges of embezzlement which he denies.

Calvey was one of several executives at private equity group Baring Vostok who were detained in February. They deny wrongdoing and say the case is being used against them in a corporate dispute over the control of a Russian bank.

Calvey was moved to house arrest in April and had hoped to win his release on Thursday, but a spokeswoman for the Moscow City Court said in a statement that he would remain under house arrest.

Reporting by Maria Vasilyeva, Andrey Ostroukh, Polina Ivanova; Writing by Tom Balmforth; Editing by Polina Ivanova

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