Russian suspect in Baring Vostok fraud case admits guilt: Interfax


MOSCOW (Reuters) – A Russian banker accused of fraud along with executives from the Baring Vostok private equity fund, has admitted his guilt, Interfax news agency reported, citing a judge reading from investigators’ case files at a hearing in Moscow on Thursday.

The court released Kordichev from pre-trial detention and put him under house arrest. He is a former chairman of Vostochny bank, which is co-owned by Baring Vostok.

Also on Thursday, the court granted house arrest to Baring Vostok founder Michael Calvey. A U.S. citizen, Calvey denies embezzlement charges and says they are being used to pressure him in a corporate dispute over control of Vostochny bank.

Reporting by Vladimir Soldatkin; Writing by Polina Nikolskaya; Editing by Christian Lowe

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