Founder of the Baring Vostok private equity group Michael Calvey, who was detained on suspicion of fraud, reacts inside a defendants’ cage as he attends a court hearing in Moscow, Russia February 15, 2019. REUTERS/Tatyana Makeyeva
MOSCOW (Reuters) – Russian prosecutors have formally charged Michael Calvey, the founder of Baring Vostok private equity group, with fraud, his lawyer Dmitry Kletochkin said on Thursday.
Calvey, a U.S. citizen, and several other senior executives were arrested last week on suspicion of defrauding Vostochny Bank shareholders. They deny the allegations and say the case is being used to apply pressure in a business dispute.
Reporting by Maria Vasilyeva; writing by Tom Balmforth; editing by Gareth Jones