February 15, 2019 / 4:22 PM / a year ago

Russia's Sberbank CEO defends U.S. Baring Vostok founder

Founder of the Baring Vostok private equity group Michael Calvey, who was detained on suspicion of fraud, stands inside a defendants' cage as he attends a court hearing in Moscow, Russia February 15, 2019. REUTERS/Tatyana Makeyeva

MOSCOW (Reuters) - German Gref, the chief executive of Russia’s biggest state lender Sberbank, said on Friday he hoped the criminal case against Baring Vostok’s founder Michael Calvey would turn out to be a misunderstanding.

U.S. national Calvey has been detained on suspicion of fraud and a court is set to rule on whether to hold him in custody later on Friday. Gref said in a statement that he knew Calvey to be an honest and decent person.

Reporting by Tatiana Voronova; writing by Tom Balmforth; editing by Kirsten Donovan

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