A Russian court on Wednesday released three men who were taken into custody last year in an embezzlement case against the Baring Vostok private equity group, placing them under house arrest instead, the RIA news agency reported.
The men, including two Baring Vostok executives, were detained a year ago along with their colleagues, U.S. investor Michael Calvey and French national Philippe Delpal.
All five deny wrongdoing and say the charges against them are being used to pressure them in a business dispute over control of mid-sized bank Vostochny.
The case has rattled Russia's business community and prompted several prominent officials and businessmen to voice concerns about the treatment of the executives. Calvey and Delpal were both moved to house arrest last year.
Baring Vostok's supporters in the case clapped in the courtroom on Wednesday as the court ruled to move executives Vagan Abgaryan, Ivan Zyuzin and Maxim Vladimirov to house arrest until April 12, RIA reported.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
