MOSCOW (Reuters) – Russia has detained the U.S. founder of the Baring Vostok private equity group in Moscow on suspicion of fraud, a Moscow court said on Friday, a move likely to concern foreign investors.
Michael Calvey, a U.S. national and senior partner at the fund, was detained on Thursday, a spokeswoman for Moscow’s Basmanny court said.
Calvey was not available for immediate comment. The court ordered one of the executives, Phillipe Delpal, a French national, to be held in custody.
Consensus of more informed people seems to be that this is narrowly related to a commercial dispute. He is also apparently far more prominent in finance and US-Russia business relations than I gave him credit for. I am not involved in either of those areas, so I wasn’t aware of all that.