4 Jun 2019 10:33

Kudrin hopes for release of 'trustful businessman' Calvey from custody

MOSCOW. June 4 (Interfax) - Russian Audit Chamber Chairman Alexei Kudrin has described house arrest of Baring Vostok investment fund founder Michael Calvey, whom the Kremlin knows as "a very trustful businessman," as odd.

"The arrest of Michael Calvey looks odd, considering the acknowledgement of his reputation. Hopefully, he will be released from custody for the investigative period," Kudrin wrote on Twitter on Tuesday.

"We all know him as a very trustful businessman who is devoted to the Russian market," Kremlin spokesman Dmitry Kudrin told the television channel RT in an interview on Monday in his comments on the Calvey situation.

"We regret that he has legal issues. Hopefully, the investigative procedures will be fruitful, and the problem will be resolved," Peskov said at a press briefing later on that day.

The defense of Calvey, who is implicated in fraud and stays under house arrest, asked the Russian Investigative Committee on May 30 to allow Calvey's participation in the St. Petersburg International Economic Forum (SPIEF).

Baring Vostok said earlier that Calvey had long been registered as a forum participant and hoped to attend the events that are due in St. Petersburg next week.

This year, the Baring Vostok delegation to the SPIEF will be led by senior partner Elena Ivashentseva. She is due to speak at a number of panel discussions.

The Baring Vostok case was opened in February 2019 on the basis of a statement by Vostochny Bank minority shareholder Sherzod Yusupov. On February 15 and 16, the Moscow Basmanny District Court arrested Calvey, Baring Vostok partner in the financial industry sector and French citizen Philippe Delpal, Baring Vostok partner Vagan Abgaryan, investment director Ivan Zyuzin, First Collection Bureau General Director Maxim Vladimirov, and former Vostochny Bank CEO Alexei Kordichev on counts of 2.5-billion-ruble embezzlement.

Calvey and Kordichev were put under house arrest two months later, on April 11.

The Vostochny Bank is going through an acute corporate crisis. Its principal shareholders via Evison Holdings are Baring Vostok and Russia Partners (that have a 51.62% stake in the bank). Former Uniastrum owners have a 40% stake in Vostochny, including 32.02% controlled by Artem Avetisyan and 4.4% controlled by Sherzod Yusupov.