FILE PHOTO: 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/File Photo
MOSCOW (Reuters) – A Moscow court on Tuesday denied bail to U.S. investor Michael Calvey and ruled to keep him under house arrest facing charges of embezzlement until January, the Interfax news agency reported.
Calvey and other executives at private equity group Baring Vostok were detained in February. They deny wrongdoing and say the charges against them are being used to pressure them in a business dispute over control of mid-sized bank Vostochny.
Reporting by Andrey Kuzmin; Writing by Tom Balmforth; Editing by Louise Heavens