Russian court denies U.S. investor Michael Calvey bail: Ifax

[October 29, 2019]    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.

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

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)

[© 2019 Thomson Reuters. All rights reserved.]

Copyright 2019 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.  Thompson Reuters is solely responsible for this content.