A Moscow court has ordered to move US investor Michael Calvey from pre-trial jail to house arrest. Calvey, the founder of the private equity group Baring Vostok, was detained in February on fraud charges for about $38.7 million. Calvey is denying the allegations saying the case is used to put pressure on him in a corporate dispute over the Russian bank Vostochny.
Calvey's defense was supported by prominent business representatives in Russia and foreign investors. Under house arrest, Calvey will be able to contact close relatives and attorneys. The judge refused to allow him to take walks.