US investor & top partners of Baring Vostok equity fund detained in Moscow on fraud allegations

A Moscow district court has ordered the detention of the founder and senior partner of Baring Vostok private equity, as part of an ongoing inquiry into fraud allegations. Other employees were also taken into custody.
Michael Calvey, a US citizen, was detained in the Russian capital on Friday along with other Baring Vostok associates, Vagan Abgaryan, Philippe Delpal, and Ivan Zyuzin, the firm said in a statement. It said the arrests have nothing to do with the company’s activities but relate to a dispute around Russia’s Vostochny Bank.

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