Bloomberg: Putin approved the investigation against Baring

The President of Russia Vladimir Putin has approved the initiation of a criminal case against the head of investment Fund Baring Vostok Michael Calvey and his business partners. On Monday, February 25, writes Bloomberg citing three anonymous sources. At a closed meeting, Putin said that the accusations in the theft of 2.5 billion rubles, “cannot be ignored”.

As noted, the meeting with the Russian President last week. Vladimir Putin’s statement was a response to a remark that his arrest could damage the investment climate in Russia.

Earlier Vladimir Putin has not publicly commented on the matter Baring. February 21 press Secretary of the President Dmitry Peskov said that the Kremlin “there is no doubt that the result of the investigation, the truth will be established”. “We believe that these investigatory actions in its relation in any way will not affect the investment climate”, — said Peskov.

During the annual address to the Federal Assembly Vladimir Putin stated that “honest” businessmen should not “go under”. He proposed to limit the occasions on which the entrepreneurs can extend the term of pre-trial detention.

Recall that the head of the investment Fund Baring Vostok Michael Calvey and his business partners were detained on February 15. Calvey was charged with fraud and arrested until April 13. According to the Investigative Committee, the businessman persuaded shareholder and member of the Board of Directors of the Bank “East” Sherzod Yusupov to take stock of a number of companies in debt in the amount of 3 billion rubles. The consequence considers that their market value is 600 thousand rubles.
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