US embassy to provide consular assistance to Baring Vostok founder

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MOSCOW, February 18. /TASS/. The US embassy in Moscow will provide all appropriate assistance to Michael Calvey, the founder and senior partner of the private equity firm Baring Vostok Capital Partners, arrested in Russia on embezzlement charges, embassy spokesperson Andrea Kalan told TASS on Monday.

“The US Embassy in Moscow is aware of the case and will be following it closely, and will provide all appropriate consular assistance. We have no higher priority than the protection of US citizens abroad. Due to privacy considerations, we have no further comment at this time,” she said.

On February 16, Moscow’s Basmanny District Court arrested Calvey for two months in a $37.8 mln embezzlement case. Calvey’s defense intends to file an appeal against his arrest.

Baring Vostok is one of the oldest investment funds operating in Russia that also makes investments in other Commonwealth of Independent States (CIS) countries. Since 1994, the fund has invested over $2.4 bln in projects concerning financial services, oil and gas industry, telecommunications, the media and the consumer sector.

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