March 14, 2019 / 9:39 AM / 2 months ago

Russia's VTB chief says holding U.S. investor Calvey in jail is excessive

MOSCOW, March 14 (Reuters) - Russian lender VTB’s CEO Andrey Kostin said on Thursday it seemed excessive to hold prominent U.S. investor Michael Calvey in jail on embezzlement charges.

Last month’s detention of Calvey, a founder of Baring Vostok Capital Partners, on charges which he denies, has rattled foreign investors in Moscow.

The head of Russia’s sovereign wealth fund, its biggest state bank and a former finance minister have all called for a softer approach in the case. (Reporting by Darya Korsunskaya; Writing by Tom Balmforth; Editing by Mark Potter)

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