Russia detains U.S. founder of Baring Vostok private equity group

[Eugene]

Source: Reuters

WORLD NEWS FEBRUARY 15, 2019 / 5:53 AM / UPDATED 15 MINUTES AGO

Russia detains U.S. founder of Baring Vostok private equity group

MOSCOW (Reuters) - Russia has detained the U.S. founder of the Baring Vostok private equity group in Moscow on suspicion of fraud, a spokeswoman for Moscow’s Basmanny court told Reuters on Friday.

Yunona Tsaryova, the spokeswoman, said Michael Calvey, also a senior partner at the fund, was detained on Thursday.

Moscow’s Basmanny court will rule later on Friday on whether to hold Calvey in custody, the Interfax news agency said.

Baring Vostok is a major equity fund group in Russia. Its website says it has over $3.7 billion of committed capital.

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Read more: https://www.reuters.com/article/us-russia-business-detention/russia-detains-u-s-founder-of-baring-vostok-private-equity-group-idUSKCN1Q418A

[CincyDem]

1. IIRC, the Magnitsky Act started with a move like this against Bill Browder.

Hedge fund guy with Russian money who was arrested. Released but all his assets seized. Hired Magnitsky to defend him and the rest is history.

Wonder if the gov't needs 3.7 billion to fund their planned Ukraine vacation ?

[OregonBlue]

2. Unless they are "detaining" him so Meuller cant.