minds subscription: He is one of the last major western private equity investors to remain in Russia, with his investment company claiming to have raised nearly 4bn 3.1bn in capital, according to The Independent. ISOCountry Groups euro at be cy ee fi fr de gr ie it lv lt lu mc mt nl pt sk si sm es va uk gb us us variants 1 33.4, 2 33.3, 3 33.3 Join Independent Minds For exclusive articles, events and an advertising-free read for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent With an Independent Minds subscription for just 5.99 6.99 9.99 a month Start your free trial Get the best of The Independent Without the ads for just 5.99 6.99 9.99 a month Start your free trial On Friday, a judge ordered Mr Calvey be detained for 72 hours, but agreed to a longer restriction less than a day later. Michael Calvey, the founder of Baring Vostok Capital Partners, was one of several executives arrested on Friday. Prosecutors allege that the American investor was part of a criminal gang that defrauded a bank of 2.5 billion roubles approximately 29m . They accuse him of undervaluing shares transferred to a debt collector company in a related-party transaction. World news in pictures Show all 50 Created with Sketch. Created with Sketch.
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