Russia detains prominent U.S. investor on suspicion of fraud

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Russia detains prominent U.S. investor on...
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Michael Calvey, the U.S. founder of one of Russia’s biggest private equity firms, denied allegations of fraud in a Moscow court on Friday but a judge ordered him to be detained for 72 hours, a move that could raise concerns among foreign investors.

Calvey, senior partner at Baring Vostok, was first detained on Thursday along with three other executives after investigators accused him and others of embezzling 2.5 billion roubles ($37.61 million).

Calvey, who is well known in financial circles as one of Russia’s most prominent...


This article was automatically added to our system 15-2-2019

Russia detains prominent U.S. investor on suspicion of fraud


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Article Tags: russia, detains, prominent, investor, suspicion, fraud,