September 18, 2019 / 6:56 AM / 3 months ago

MEDIA-Russia may drop case against U.S. investor Calvey- Kommersant

* Russia may drop its embezzlement case against U.S. investor Michael Calvey and other executives at the Baring Vostok private equity group, the Kommersant newspaper reported on Wednesday.

* The Baring Vostok executives were detained in February on embezzlement charges, which they denied. They said the case was being used to pressure them in a business dispute over control of a bank.

* The Kommersant report said that investigators had re-appraised the value of shares handed over by Baring Vostok to the bank as part of a loan repayment.

* They found the shares were worth many times more than the amount alleged by the plaintiff in the case, the newspaper said.

* Baring Vostok's lawyers can now use the finding to appeal for the case to be dropped on the grounds of a lack of evidence, Kommersant said. -- Source link: bit.ly/2kmXNCZ -- Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 64.3880 roubles) (Reporting by Moscow newsroom)

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