Court transfers founder of Baring Vostok Michael Calvey from remand prison to house arrest
Calvey - while appearing before court - stated he would not leave the country before the hearings are over.
Moscow’s Basmanny court granted a request of the Investigative Committee of Russia on the change of measure of restraint for a founder of an investment fund Baring Vostok Michael Calvey, reports a representative of RBC from the courtroom.
The Investigative Committee of Russia had asked to soften the measure of restraint for another defendant in the case - a former chairman of board at Vostochny bank Aleksey Kordichev - which is going to be considered on April 11 by court. In February, Kordichev testified against Calvey and other defendants in the case.
“Things have changed during 2 months. The investigation determined that Calvey has stable social ties in Moscow,” investigator said in court. She noted that a lot of bails related to Calvey had been received. He holds down a steady job, deals with investment activities and charity. Besides that, he has his own real estate - the fact that had not been known earlier, in her words. He has 3 children at expense.
Calvey - while appearing before court - stated he would not leave the country before the hearings are over. “Escape is peculiar to those who are guilty. To me, escape from Russia due to this case is equal to admission of guilt and self destruction. We don’t need any special proves for this,” he said.
Earlier this week, Moscow’s Basmanny court prolonged the arrest of 4 other defendants in the case - including partners of Baring Vostok Philippe Delpal and Vagan Abgaryan, the fund’s investment director Ivan Zyuzin and CEO of Pervoye kollekorskoye byuro Maksim Vladimirov - till July 14.
Calvey and other defendants in the case have been in a remand prison since February. They are being accused of theft of 2.5 billion rubles ($38 million) from Vostochny bank 52 per cent of which are controlled by Baring Vostok. The bank released the debt in exchange for shares of a Luxembourg-based company IFTG. The investigation theory is that the papers cost 600 thousand rubles ($9.3 thousand) - not 3 billion rubles ($46 million). Calvey pleads not guilty. He stated the investigation evaluation was underestimated.
The financier tied the case to a shares’ conflict at Vostochny bank. The complainant in the criminal case is a minority shareholder of Vostochny bank Sherzod Yusupov, a partner of Artem Avetisyan, who - through Finvision company - owns 32 per cent of the bank. Yusupov owns 4.8 per cent.