Putin Informed About Calvey's Detention In Baring Vostok Fraud Case - Kremlin Spokesman

Russian President Vladimir Putin has been informed about detention of Baring Vostok investment company founder and member of the Vostochny Bank's board of directors, Michael Calvey, amid fraud investigation, Kremlin spokesman Dmitry Peskov said Friday

MOSCOW (UrduPoint News / Sputnik - 16th February, 2019) Russian President Vladimir Putin has been informed about detention of Baring Vostok investment company founder and member of the Vostochny Bank's board of directors, Michael Calvey, amid fraud investigation, Kremlin spokesman Dmitry Peskov said Friday.

Calvey, who was detained earlier in the day on suspicion of a large-scale fraud, denied involvement in embezzling 2.5 billion rubles ($37.5 million) from Vostochny Bank. Moscow's Basmanny court extended his detention for 72 hours.

"Yes [Putin has been informed]," Peskov told reporters in response to a relevant question.

Calvey at the hearing on Friday linked the criminal case against him with his corporate conflict with other co-owner of the Vostochny Bank, Artyom Avetisyan. The suspect asked the court to release him on bail of 5 million rubles ($75,000).

According to the court, the list of detainees in the Baring Vostok criminal case also includes Baring Vostok's Investment Director Ivan Zyuzin, Industry Partner for the financial industry sector Phillipe Delpal and Partner Vagan Abgaryan. Two more detainees are not employees of the Baring Vostok company.