US Welcomes Russia’s Decision to Release Calvey From House Arrest – White House

WASHINGTON, November 18- The United States welcomes the Russian Supreme Court’s decision to release Baring Vostok founder Michael Calvey from house arrest, National Security Adviser Robert O’Brien said in a statement on Tuesday. On Thursday, the Russian Supreme Court released US investor Calvey and several other defendants in the case of Vostochny Bank…

(Updates with background in para 4)

WASHINGTON, November 18 (Sputnik) – The United States welcomes the Russian Supreme Court’s decision to release Baring Vostok founder Michael Calvey from house arrest, National Security Adviser Robert O’Brien said in a statement on Tuesday.

On Thursday, the Russian Supreme Court released US investor Calvey and several other defendants in the case of Vostochny Bank from house arrest.

“The US welcomes Russia’s decision to lift Michael Calvey’s house arrest. We look forward to quick resolution of the remaining charges against him. Upholding the rule of law is a critical step to any advancement in the US-Russia business relationship,” O’Brien said in a statement provided by the White House.

Calvey and his colleagues were detained in February 2019 on charges of defrauding Vostochny Bank. According to the investigation, they offered to pay back a debt to the bank with a controlling stake of another company owned by Calvey. The defendants said the shares were worth 3 billion rubles ($38.7 million), but investigators found that they were worth 600,000 rubles at most. Each of the defendants has dismissed the charges.