Baring Vostok Asks Putin to “Take Over” Case of Jailed U.S. Investor

The company of jailed U.S. businessman Michael Calvey, Moscow-based private equity group Baring Vostok, has written an open letter to Russian President Vladimir Putin, urging him to intervene in the arrest of a U.S. citizen, CNBC reported.

Calvey, who is the co-founder of Baring Vostok, was detained along with five others in relation to the alleged embezzlement of 2.5 billion Russian rubles ($38.3 million).

The company is now publicly urging Putin to “take personal control of the criminal case” against all six men who remain imprisoned, awaiting trial.

“I don’t know if the President has seen the letter and how it was sent, but we will report to him about the letter based on the media reports,” Kremlin spokesman Dmitry Peskov told reporters on a conference call.

Addressing “Dear Vladimir Vladimirovich,” the letter said Putin’s involvement was needed “to ensure a comprehensive, independent and objective investigation of this criminal case.”

The online letter further explained that the arrests follow a dispute between Baring Vostok funds and Russian businessmen who are shareholders of Vostochny Bank.

Under the letter on the Baring Vostok website, there is an option for people to co-sign the appeal addressed to the Russian leader.

A Baring Vostok executive and another man held in the case are due to appeal their arrest later on Monday. Calvey is due to appeal on Thursday. All the charged men deny wrongdoing and say the case is being used to exert pressure in a business dispute.