News

Media Statement

08.07.2019
Today the Basmanniy Court once again prolonged the house arrest of the founder of Baring Vostok Michael Calvey, without any legal basis for the arrest, depending solely on the made up accusations by Mr Yusupov. The decision was made at the insistence of the investigators, who have been deliberately mislead by corporate raiders to justify the arrest of innocent people and to enable them to seize a commercial asset. Messrs Avetisyan and Yusupov are abusing the criminal court system in an attempt to resolve a commercial dispute, as was further confirmed by the decision by the RSPP Ethics Committee, who represented the viewpoint of the entire business community. Their actions were determined to be completely unethical, threatening Russia’s own interests and the development of the economy as a whole. Another reason for Avetisyan and Yusupov’s motivation to arrest these particular Baring Vostok employees is because they are the key witnesses in the London arbitration case over fraud and asset stripping of 17.5 bln roubles at Uniastrum Bank, the merits of which will be considered in January 2020. We are confident that the court will eventually establish that our colleagues are innocent, and the raiders and other culprits in this case will be punished accordingly.


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