Dmitry Savochkin, the lawyer of Michael Calvey, the founder of investment fund Baring Vostok, who is currently under house arrest on suspicion of embezzling money from Russia's Vostochny Bank
MOSCOW (Pakistan Point News / Sputnik - 07th June, 2019) Dmitry Savochkin, the lawyer of Michael Calvey, the founder of investment fund Baring Vostok, who is currently under house arrest on suspicion of embezzling money from Russia's Vostochny Bank, told Sputnik on Friday that his client regretted that he was not allowed to take part in the St. Petersburg International Economic Forum (SPIEF).
"Michael is under house arrest, he has a number of restrictions, [he can] communicate only with lawyers. He did not ask to extend gratitude to the business community, but in a conversation about his trip to the forum, he expressed regret that, apparently, he would not go to the St. Petersburg forum," Savochkin said.
On May 27, Baring Vostok told Sputnik that Calvey still hoped to attend the forum.
Calvey was detained alongside five other suspects in Moscow in February as part of a fraud investigation against Baring Vostok. According to the probe, in order to avoid repaying a 2.5 billion ruble ($38.4 million) debt to Russia's Vostochny Bank, Calvey offered to give the bank's shareholders 59.9 percent of the shares from another company he owned. These shares turned out to cost far less than their real market value.
On February 16, Moscow's Basmanny Court ordered Calvey to be held in custody for two months. Calvey has continually maintained his innocence. On April 11, the court ruled to release Calvey and place him under house arrest.
SPIEF began on Thursday and will last through Saturday. Rossiya Segodnya International Information Agency is an official media partner of the forum.
