MOSCOW (Pakistan Point News / Sputnik - 13th March, 2019) The arrest of US investor Michael Calvey undermines efforts to attract investment in Russia and to develop business ties, Andrea Kalan, spokesperson at the US Embassy in Moscow, told RIA Novosti on Tuesday.
�"Mr. Calvey's continued detention undermines efforts to create the stability and transparency needed to attract new investment in Russia's economy and encourage more robust business interaction," Kalan said.
Calvey, the US founder of Moscow-based Baring Vostok investment group, was detained in Moscow alongside five other suspects in February over suspected complicity in the theft of 2.5 billion rubles (over $38 million) from Russia's Vostochny Bank.
On February 16, Moscow's Basmanny Court ordered Calvey to be held in custody for two months. Calvey insists that he is not guilty and has not committed any crimes.
