FILE PHOTO: 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 February 10, 2020. REUTERS/Evgenia Novozhenina
MOSCOW (Reuters) – A Moscow court ruled on Monday to extend until May 13 the house arrest of U.S. investor Michael Calvey, an executive at private equity group Baring Vostok who faces charges of embezzlement, TASS news agency reported.
The court also ruled to extend the house arrest of Calvey’s French colleague Phillipe Delpal until May 13, Interfax news agency said.
The executives were detained in February 2019. 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 Polina Ivanova; Editing by Susan Fenton