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The US head of a private equity investment firm has been detained in Russia and is set to appear in court on fraud charges Friday, a Moscow tribunal said on its website.
Michael Calvey of investment company Baring Vostok was named in the online court document.
Several others from the fund and other businesses had been held in relation to the charges, a court spokesperson told Russian news agencies.
These included French citizen Phillipe Delpal, according to the reports.
“Baring Vostok confirms that four employees were detained,” the group said in a statement on its website, adding that the charges related to a commercial dispute over the Vostochny Bank.
“The actions of law enforcement are not directly related to the activities of Baring Vostok and other portfolio companies,” it said.
Calvey is a founder and senior partner at the firm.
The Baring Vostok fund specialises in private equity investments in Russia and the former Soviet Union.
Since 1994 the fund has invested over $2.8 billion in companies in the region, according to its website.