OREANDA-NEWS. According to investigators, the arrested founder of Baring Vostok, the father of three young children, has “stable social ties” and real estate in Moscow. The court will consider the petition of the IC on April 11. The Investigation Committee (IC) signed a decree on a petition in front of the court to change the preventive measure to arrested Baring Vostok founder Michael Calvi on April 1, reports the Russian media.

Calvey “has strong social connections in Moscow”, and also has a permanent job and residence, is busy with development of investment projects and provides charitable assistance to various funds, lists the publication of the arguments given by the investigative committee. In addition, investigators pointed out that Calvi has three young children dependent on him and has real estate in the capital. The above gives grounds for changing the preventive measure, the newspaper writes.

According to the information, the investigation asks Calvi to serve his house arrest in the Sovetnik residential complex on Bolshaya Dmitrovka Street, he won't be able to use the means of communication and the Internet (except for calling emergency services), and he will only be allowed to communicate with lawyers and close relatives.

The founder of the Baring Vostok investment fund, Michael Calvey, and several other defendants in the case were detained on February 15 in Moscow, and they were charged with fraud. The investigation believes that Calvi convinced the shareholder of Vostochny Bank to accept the shares of International Financial Technology Group on account of debt from the First Collection Bureau. According to investigators, Calvi overestimated the value of securities from 600 thousand to 3 billion rubles. The company's debt amounted to 2.5 billion rubles.