US, French investors freed from house arrest in Russia

MOSCOW: Russia’s Supreme Court Thursday ruled to release from house arrest US financier Michael Calvey and French banker Philippe Delpal, who have been held in Russia on embezzlement charges since early 2019.

Calvey, the 53-year-old founder of the Russia-based investment fund Baring Vostok, was arrested along with several of his associates in February 2019 and accused of defrauding Vostochny Bank of 2.5 billion rubles ($32.5 million).

The court told AFP that it had changed the pre-trial measure for Calvey, Delpal and their Russian colleagues “from house arrest to a restriction on certain actions”. They will not be allowed to leave their homes between 22:00 and 6:00 or to contact witnesses and other defendants in the case.—AFP