In a first sign of a milder attitude towards Michal Calvey since his arrest in mid-February, a Moscow court placed him today under house arrest for at least three days.
The court’s decision follows a petition submitted by Russia’s Investigative Committee, whose investigators “have determined that Calvey possesses strong social ties in Moscow, has a steady job developing various investment projects in Russia, while a respectable number of people have petitioned for his release.”
Calvey also “provides philanthropic help, including help for sick children,” the Investigative Committee noted.
The news agency Interfax quoted Calvey as saying: “For me, the question of my innocence is about my honor and my reputation, which I have been building all my life.”
The US investor has no intention to “escape [the] criminal case,” which would imply admitting guilt, “tantamount to self-destruction.”
“My whole life is in Russia, and everything I have done for almost the last 30 years is proof of that,” Calvey added.
During his house arrest in Moscow, Calvey will wear an electronic bracelet. He will have no access to electronic communications.
The unlucky ones
Also involved in the case, Alexander Kordichev – who pleaded guilty and testified against the other suspects – was moved from jail to house arrest, too. Meanwhile, four other suspects, Vagan Agbaryan, Maxim Vladimirov and Ivan Zyuzin, as well as French citizen Philippe Delpal, will stay in jail at least until July 14.
Calvey and other executives of the Baring Vostok private equity firm are accused of large-scale fraud investigation (read more about the charges). Their arrest and their placement in pre-trial detention based on controversial motives shocked the business community in Russia and beyond. Calvey received public support from a variety of high-profile businessmen and industry associations. Russian Business Ombudsman Boris Titov called Calvey’s arrest “clearly unlawful.”
The case could also overshadow US participation at the June St. Petersburg International Economic Forum (SPIEF), the Kremlin’s annual investor showcase.
The fact that the main plaintiff in the case, Artem Avetisyan, has connections with the Russian authorities at the highest level, fuelled speculations about President Putin’s attitude in the case and the potential behind-the-scene motives for the investigation.
Sources: Interfax (1, 2, 3), EWDN
