MOSCOW, April 11 (Xinhua) -- A Moscow court ruled Thursday to transfer the detained founder of Baring Vostok private equity fund Michael Calvey to house arrest, Russian media reported.
The term of Calvey's house arrest is set until April 13, so in the near future the investigation will have to apply to the court with a request to extend it.
Calvey will not be able to leave his residence without investigators' permission. He is prohibited from communicating with anyone other than relatives, lawyers and guards.
He is also banned from receiving and sending postal and telegraph dispatches as well as using the Internet and other communication tools, unless he needs to call an ambulance, an emergency service, or call an investigator, a lawyer, or a home arrest monitoring officer.
Calvey, a U.S. citizen, was detained alongside four other senior managers in February and charged with fraud.
Baring Vostok said that it has full confidence in the legality of the managers' actions and disagrees with the charges.
Baring Vostok, a leading private equity group in Russia, has invested more than 900 million U.S. dollars in Russia over the last 25 years.