Press Secretary of the President of Russia Dmitry Peskov commented on the arrest of the founder of the investment Fund Baring Vostok Michael Calvey. In the Kremlin hope that this will not affect investment in Russia. On Monday, February 18, Interfax reported. A presidential Commissioner for human entrepreneurs Boris Titov called the arrest Calvey “clearly illegal”.
The essence of the claims
Michael Calvey were arrested Basmanny court of Moscow on February 16 for a case involving the company “First collection Bureau” (PKB), one of the investors of which he is. According to investigators, PKB took a loan of 2.5 billion rubles from the Bank “East”. Instead of returning the loan Calvey gave Bank shares in another company, IFTG, convincing the Board of Directors that they are three billion.
One of the members of the Board of Directors of “Eastern” Sherzod Yusupov, who disagree with the transaction, has addressed in FSB, accusing Calvey and other persons involved in the transaction, in the fraud. The investigation claims to have discovered an audit assessment of company’s shares IFTG, which evaluated them in three billion and 600 thousand rubles.
Michael Calvey pleaded not guilty and claims that Yusupov had access to all information. And fraud charges he calls an attempt to put pressure on the Baring Vostok Fund, which filed a lawsuit in London arbitration court to reconsider the share of Yusupov and his business partner Artem Avetisyan in the Bank “East”.
Besides the czars, the Basmanny court arrested for two months employees of the Fund, the Baring Vahan Abgaryan and Ivan Zyuzin, Chairman of the Board of JSC “Norvik Bank” Alexey Koricheva, CEO of the “First collection Bureau” (PKB), Maxim Vladimirov, and also a citizen of France, a partner of the Fund Philip Delpal.
“The standard of good form”
In defense Calvey also said many business representatives who believe the arrest Calvey most high-profile criminal case against foreign investors in Russia after the persecution of the Hermitage Capital founder bill Browder.
Business Ombudsman Boris Titov, commenting Monday deals Michael Calvey, said he believes the chosen measure of confinement illegal. “In Baring — pure corporate dispute, and the adoption by court of a measure of restraint for Calvey involving deprivation of freedom, clearly illegal,” — said Titov.
“It’s hard for me to imagine that Michael, and indeed some of the “Bering” was doing something indecent or unlawful” — said the co-founder of Yandex Arkady Volozh, naming the Fund and the Calvey “standard of good form and legality.”
“I am familiar with Michael Calvey for over 20 years. I have not met a more professional and honest investor in Russia”, — said in his turn the founder of “Tinkoff Bank” Oleg Tinkov.
The head of Sberbank German Gref stated that he does know the essence of charges against the founder of Baring Vostok, however, has long known czars “as a decent and honest man” and hopes that the police will understand and it will be a misunderstanding.
Commenting on the arrest of Michael Calvey, a spokesman for Russian President Vladimir Putin, Dmitry Peskov confirmed that the Kremlin knows Calvey as “very consistent and a major investor in our economy.” According to him, the President was briefed on the situation after the arrest.
“He always defended the thesis of the investment attractiveness of the Russian market”, — said the official representative of the Kremlin, expressing the hope that the arrest of the founder of the largest investment Fund will not affect the investment climate in Russia.