Moscow court releases American investor Michael Calvey from detention center to house arrest

Moscow’s Basmanny Court has approved a petition for Michael Calvey, the founder of the investment firm Baring Vostok, to be placed under house arrest after spending almost two months in a pretrial detention center. Calvey has been charged with embezzling 2.5 billion rubles (almost $38,775,000). Interfax reported that Calvey was released from the control of his guards on the spot in the courtroom.