(9 Jan 2020) A Russian court on Thursday extended house arrest for a US investor suspected of involvement in money embezzlement.
Michael Calvey had been under house arrest since mid-April 2019 on charges of embezzlement from the Russian bank Vostochny, in which his investment firm Baring Vostok has a controlling stake.
His house arrest will be valid for another month, then its extension will be reconsidered, officials said.
The veteran US investment fund manager was detained in Moscow in February 2019, and spent the first two months in custody.
Basmanny Court also extended house arrest for Calveys’ Baring Vostok partner, French citizen Philip Delpal.
Baring Vostok said earlier the case results from a dispute between bank shareholders.
Calvey denies any wrongdoing.
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