Russian investigators ask court to extend house arrest of U.S. investor

MOSCOW (Reuters) – Russia’s Investigative Committee has asked Moscow’s Basmanny district court to extend the house arrest of U.S. investor Michael Calvey until July 14, the court said in a statement on Thursday.

The court released Calvey earlier on Thursday after two months in jail and placed him under house arrest until Saturday, softening his treatment in a fraud case that has rattled investors.

Calvey, founder of the Baring Vostok private equity group, was detained in February pending a trial on embezzlement charges that he denies and that he says are being used to pressure him in a corporate dispute over the control of a Russian bank.

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